U.S. Central

• NCUA Will Shutter U.S. Central Ahead of Schedule

  By Heather Anderson  |  June 25, 2012

  Agency says ACH to transition completely by Sept. 30 with complete shutdown now expected on or about Oct. 31 instead of Dec. 31.

• Kansas Judge Consolidates Two NCUA Securities Fraud Suits

  By Heather Anderson  |  June 6, 2012

  Suits against Wachovia Capital Markets for U.S. Central, WesCorp losses combined into one.

• Some Critical of NCUA’s Cease and Desist Against Corporate Leaders

  By Heather Anderson  |  May 24, 2012

  Most credit union leaders decline comment on order against failed corporate leaders but some criticism emerges.

• Banned Corporate Leaders Can Still Work at Natural Person CUs: NCUA Orders

  By Heather Anderson  |  May 18, 2012

  Two former CEOs have been banned from working again for corporates but are allowed to work elsewhere in the industry.

• Wachovia Files to Dismiss in NCUA Mortgage Securities Case

  By Heather Anderson  |  April 15, 2012

  Lawyers for Wachovia Capital Markets filed documents in Kansas City Federal Court asking the court to dismiss NCUA’s securities fraud case against the firm now owned by Wells Fargo. Central to Wachovia’s argument is a question that has haunted the NCUA ever since the collapse of U.S. Central FCU: Why...

• Wachovia Says Corporates Knew MBS Risks

  By Heather Anderson  |  April 9, 2012

  Filings in suit over U.S. Central losses show bank says corporates knew the risks of investing in mortgage-backed securities.

• Vendor Claims Jump in Corporate Business

  By Robert McGarvey  |  January 16, 2012

  Transaction processor Lending Tools on Monday told Credit Union Times in an exclusive interview that it had signed a “significant” number of corporate credit unions to “binding agreements.”

• As U.S. Central Shutdown Looms, Lending Tools, Viewpointe Team Up To Offer Auto Settlement Solution

  By Robert McGarvey  |  December 28, 2011

  Lending Tools and Viewpointe today announced a collaboration to provide an innovative auto settlement solution to credit unions.

• The U.S. Central “Wind Down” - Why It Happened, What It Means

  By Robert McGarvey  |  December 23, 2011

  Corporates say they're ready; NAFCU's Becker says FOI request sent to NCUA to find out more.

• No Winning Bid: NCUA to Shut Down U.S. Central Bridge

  By Robert McGarvey  |  December 22, 2011

  Chairman Debbie Matz says bids for payments operation "did not meet NCUA's responsibility to minimize service disruptions and impose the lowest possible cost."