Five years ago today, the NCUA seized three corporates and took its final steps to resolve the corporate crisis.
The rules, mandated by Dodd-Frank, address issues that allegedly contributed to the failure of corporate credit unions.
Former NCUA Board Member Michael Fryzel will reopen his Chicago law office next week.
The NCUA refuses to provide subpoenaed documents that could detail management and examiner responsibility for corporate failures.
Updated numbers from the NCUA reveal a projected range of future assessments between negative $2B and negative $600M.
Financial reports also reveal a continued decline in legacy asset credit ratings.
The NCUA received $1.073B of the $1.4B JPMorgan settlement. Lawyers got the rest.
NCUA board member also provides a sneak peek at what might be his last major conference speech in his current position.
Matz and Metsger say 2021 rebate likely if current NGN performance holds, but Fryzel warns credit unions against anticipating any payback.
NCUA officials still won't reveal the net amount received from the JPMorgan settlement. But their excuse sounds credible.