Corporate collapse settlement totals now top $335 million, agency says. Lawyers to get $84 million. Corporate rescue assessment to be determined.
NAFCU president responds to NCUA announcement by reiterating agency's need to help credit unions lower expenses.
Agency says reduction in 2013 corporate assessment not in the offing but have passed the halfway point in overall payback.
Board chair says audit shows agency is fulfilling its financial reporting responsibilities, will soon update system resolution costs.
Veteran examiner assumes her new duties on Sept. 3 and succeeds Tim Segerson, who earlier this year became deputy director of E&I.
NASHVILLE, Tenn. — Effective Jan. 1, NCUA’s Office of Corporate Credit Unions will reorganize into a new Office of National Examinations and Supervision.
ALEXANDRIA, Va. – Federally insured credit unions have two new proposed rules to consider, new corporate assessment after the NCUA Board met Tuesday.
Credit unions should set aside between 8 and 11 basis points for next year’s assessment to pay for the corporate credit union rescue, NCUA Chairman Debbie Matz advised last week.
While the NCUSIF’s equity ratio is headed in the right direction, it’s not clear how much it will benefit the bottom line of credit unions.
ALEXANDRIA, Va. — If current financial trends continue, the NCUSIF's equity ratio will likely end the year at between 1.28% and 1.32%, which could mean a lower assessment to pay for the corporate credit union rescue, NCUA Chief Financial Officer Mary Ann Woodson told the agency's board last Thursday.