Credit Union Exam Solutions Presents With Flying Colors

Speaker 3: It's an emergency.

What is it?

Just wait and see.

Boardroom courtroom, footnotes.

Fees.

Policy shifts quietly.

New regulation, new direction.

Leadership in question.

Insurance on camera.

Watch, examine attention.

We'll wait for next week when
the meeting's on the NCU at

well agenda drop something.

And pops.

Now.

It's in your head.

It's in your head.

Third party cyber liquidity,

concentration, rising risk model.

Stress assumptions.

Everybody,

it's an emergency.

Didn't plan it.

Here we go.

When the signal star flashing red,

we hit.

Speaker: Hey everyone, this is Mark
Reco with a mini emergency podcast.

Chairman Halman has issued a
statement of NCA saying he's going

to be leaving NCA and he has another
job that will be the main focus

of this short emergency podcast.

And to tell you that I'm going to talk
about this and all other things, NCUA.

Thursday when I sit down with John Ney,
Jeff Bino and Alonzo Swan to dip into a

deeper dive on Helpmann leaving and other
things that are going on in the industry.

You may recall those three folks
former NCA folks who are out there

doing their own credit union thing.

Were on a podcast I did.

In December or November, and they're
gonna be on roughly quarterly

together, and we thought this would
be a good opportunity to do that.

But back to the statement

kyle Houtman was named to the public
company Accounting Oversight Board.

In the future while remaining
chairman of NCUA and specifically

he said that he is staying at NCUA
until a successor is confirmed.

That one sentence says a lot, but
specifically his press release says.

NCA Chairman Kyle Halman issued the
following statement after being named

as a member of the Public Company
Accounting Oversight Board, the P-C-A-O-B.

I'm grateful to President Donald J.

Trump and Chairman Paul S.

Atkins for the faith in me
and for the appointment to

the P-C-A-O-B said Chairman.

Houtman, I intend to remain in
my role as NCA Chairman until my

successor is appointed by President
Trump and confirmed by the Senate.

Now on Facebook.

Facebook on LinkedIn, he said, I've
got a new job lined up, although

I won't be leaving NCA just yet.

Planning to stay till
successor is confirmed.

Thank you.

SEC Chairman Atkins, for
his confidence in me.

And that's forwarding a report that
was on LinkedIn from Mark Mauer.

A reporter at the Wall Street Journal.

So what does this mean?

It means that there have to be some names
in play, and I've heard some rumblings.

I'm not gonna go into them here, but
I, there has to be some play or some

conjecture, I'll put it that way,
on who will be taken Mann's Place.

As a reminder, they only
have one board member and.

I think we'll get more into this on
Thursday, but I think it's may timeline

that they probably know what's going to
happen with the other two board members

who were fired by Trump, Harper and Ska.

And as a reminder, Helman's
term was up in August.

Typically, board members stay
about a year beyond the term.

When will this get slotted for approval?

To the NCA board.

Will the NCA board and Congress
only put in one board member?

Will they put in two board members?

Will they put in three board members?

Will they wait till the Supreme Court
decides on the other cases that imple,

that, that impact Harper and Ska?

Time will tell, and we'll do a deeper
dive on that on Thursday with the gang

of folks that I mentioned earlier now.

Why this is a big deal.

The N-C-U-A-I-I talk a lot here about NCUA
being in chaos and NCUA is now in limbo.

Those folks at NCUA who have just gone
through a 27% downsizing in staff who've

announced internally that offices are
going away like the Office of National

Exam and Supervision, who've not announced
to the public that things are going away.

Who by the way.

Issued an announcement.

I, this is my conjecture.

There's NCOA announces a 2026 leadership
team, and it walks through and says,

who's there starting with Kyle Halman.

Then Sarah Bang, the chief of staff.

Then other folks that are
the political appointees.

And then with the highest
ranking staff member, Larry fao.

And then the acting Deputy Executive
Director Kelly Lay it, walks through

all the other central offices.

I went through that press release
that came out on January 27th.

There are 11 electing.

Excuse me.

There are 11 acting directors.

When you're acting, you've been promoted,
but are not permanently in there.

In normal times you do that because
you're having somebody double dip

or you're having somebody do a
position while they're trying to

decide how they're gonna announce it.

Are they gonna announce it?

Internal, external.

Here we have 11 because under the Trump
administration you're not able to.

As I understand it, you're not
able to make permanent decisions

and permanent promotions.

Hopefully that freeze comes off.

He took it off about a year into
his term last go round, quite

frankly, with the way things are.

Being done, this administration, this
four year cycle, my guess is they might

just leave it that way for four years.

So anyway, we have 11 actings.

When you're in acting, you don't feel
like you really own it, so you're less

likely to take things that you might do if
you did own it, which creates all other.

Potential challenges for the people
and the staff that are still there.

But what I do wanna say is that the
agency, quite frankly, runs itself.

The board, comes out with big decisions
that they need to filter down through

the executive director, but there's a.

Bible at NCUA, for lack of a better
term, called the delegations of

authority that says who can do what?

That's still in play.

So even though halman has his eyes
elsewhere, and you could now say is

a lame duck, 'cause once you announce
you're leaving, you are a lame duck.

People are gonna delay the
delay to get you what you

need unless whenever they can.

It's just the natural human
human way things get done.

But that doesn't ae the
alleviate the angst NCOA staff.

In my opinion are already stressed out.

So this just stresses them out more.

They wonder when he is leaving,
they wonder who's coming in.

They're wondering how many people come
in, et cetera, et cetera, et cetera.

But with that Thursday, we'll
have a deeper dive on this.

I wanted to touch on this because it
is something that falls into my new

emergency podcast type situation.

I wanted to try and get John, Jeff and
Alonzo recorded today, but they're,

a lot of those guys are traveling and
doing other things at the beginning

of the week, the quickest we could do.

An emergency podcast with them
was Thursday, and my episodes

usually go out on Tuesday.

So what you're getting today is a short
snippet on what's coming Thursday.

As always, I appreciate you
listening and or watching.

This is Mark TriCal signing
off with flying colors.