ALEXANDRIA, Va. — NCUA says threat of fines leads to drop from more than a thousand to about 100.
The NCUA says it will impose civil money penalties on credit unions that don't file 5300s by Friday.
Review key results from NCUA fourth quarter call report data released March 3.
Despite warnings and threats of fines next quarter, hundreds credit unions still filed their December 2013 call reports late.
Aggregate 10.78% net worth for fourth quarter 2013 marks 13 basis points increase in just three months.
While most agree credit unions should file reports on time, industry leaders also think regulator's fines are heavy handed.
NCUA Board Chairman discusses the agency's proposed risk-based capital rule and call report filing fines on-site from NCUA headquarters.
One in seven of you don’t turn your 5300 Call Reports in on time. Why not?
One out of seven credit unions are late with their call reports. But tardiness will soon be an expensive option.
NAFCU calls penalties extreme, CUNA says they are unnecessary.