The total amount of federally insured credit unions that filed call reports late in the third quarter dropped to 47 from 75 in the second quarter, according to the NCUA.
"NCUA is conducting individual case reviews to determine whether there are any cases in which mitigating circumstances warrant a waiver of civil money penalties," the agency said Tuesday. "NCUA expects to notify late filers in early December of the penalties they face."
The amount of the civil penalty is determined by each credit union's asset size, recent call report filing history and length of the filing delay.
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