Of the 56 late filing credit unions, 20 were excused, 28 consented to fines, and eight refused and will receive administrative hearings.
Largest consolidation announcement comes from Visterra Credit Union and Altura Credit Union in California.
ALEXANDRIA, Va. – Proposal raises definition of a small credit union to assets less than $100 million.
WASHINGTON — NCUA's Fazio tells Senate Banking Committee 77% of credit unions could gain regulatory relief.
Proposal requiring member FIs to maintain 10% of assets in residential mortgages is unpopular.
A total of $12,820 in civil money penalties will go to the U.S. Treasury.
The Alexandria, Va.-based credit union brings in $963M last year to boost assets to $17.8B.
Compared to other $10B+ cooperatives, the Vienna, Va.-based credit union tops the list for fee income.
Rule would require 10% of credit union assets in residential mortgages to stay in Federal Home Loan Bank system.
The $29B State Employees’ CU says it’s ready for NCUA’s stress testing procedure.