The National Credit Union Administration on Tuesday said that William DeSarno, the agency’s inspector general the past eight years who authored scathing reports on NCUA’s culpability in
He will be succeeded by James Hagen, the agency’s deputy inspector general for audit.
DeSarno will retire after 16 years with NCUA, the last eight years as inspector general. He retires after more than 44 years of government service. He will best be remembered for a series of material loss reviews that listed lax examiner oversight and forbearance among the causes of the five corporate credit union failures.
Hagen joined NCUA in 2005. In his current position he is responsible for auditing and evaluating the business programs, as well as the safety and soundness of federal credit unions and the National CU Share Insurance Fund.
He also is responsible for the agency’s financial statement audit and material loss reviews of liquidated credit unions.
Prior to working at NCUA, Hagen served in inspector general’s offices of the U.S. Postal Service, the Social Security Administration and the Treasury Department.
