The Richmond, Va.-based credit union can't recover net worth after recession losses.
Svetislav Vujovic is convicted on 13 counts for his role in a fraud scheme that cost the NCUSIF $186M.
Financial reports show no sign of financial distress.
Against a backdrop of a groundswell of support to expand business lending authority, one outcome is becoming an unfortunate black eye on those efforts.
A bulletin released last week by the FBI revealed the reason the NCUA seized the $52 million Broome County Teachers FCU of Binghamton, N.Y., in June of 2011. Loan fraud.
The Financial Accounting Standards Board recently released a proposed accounting standards update for financial instruments concerning new financial statement disclosures of liquidity risk and interest rate risk. The proposal is one portion of a joint project between FASB and the International Accounting Standards Board on the subject of accounting for...
Nearly three months after the NCUA was appointed the liquidating agent for Telesis Community Credit Union, the agency has been working behind the scenes to divest the cooperative’s roughly $4 million stake in Autoland Inc., an auto buying CUSO.
Michigan Office of Financial Insurance Regulation on Thursday closed the $303,261 United Catholic Credit Union in Temperance, a one-person shop.
The NCUA on Saturday said that Western Bridge Corporate Federal Credit Union has been formally liquidated.
Whether a mid-sized credit union in Colorado or a billion dollar credit union in Philadelphia, the messaging about protecting small town financial services surfaced again last week.