Iowa Code r. 189-14.3 - Examination reviews
(1) Based
on the division's examination of a credit union, the superintendent may, by
written notice, request a credit union or its directors to appear at an
examination review at the division's office.
(2) If a credit union or its directors fail
to appear at an examination review, the superintendent may: institute a formal
investigation and issue subpoenas; or institute a contested case
hearing.
(3) At any time, including
during an examination or an examination review, the superintendent may issue a
written warning directing a credit union or an officer, director or employee of
a credit union, to take action as deemed consistent with Iowa Code chapter 533
or as necessary for the safety and soundness of the credit union.
(4) If a credit union fails to comply with a
warning of the superintendent, the superintendent may institute a formal
investigation or a contested case hearing.
(5) If an officer, director or employee of a
credit union fails to comply with the superintendent's warning, the
superintendent may: institute a formal investigation; initiate a contested case
hearing regarding removal of the officer, director or employee of the credit
union; or refer the matter for criminal prosecution.
Notes
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