Federally insured credit unions could potentially receive a rebate on corporate assessments, according to a Feb. 12 release from the NCUA. However, the final tally won't come until 2021, the regulator cautioned.
JPMorgan Chase settlement eliminated future assessments, but NCUA won't reveal how much it paid in lawyer's fees.
Former U.S. Rep. Barney Frank and Sen. Christopher Dodd in first public appearance together since retiring.
Legacy asset performance and 2013 assessment reduces estimated outstanding corporate stabilization costs to less than $1.6 billion.
Letter to Credit Unions says agency will charge 2014 assessment and notes details about 2013 tab.
The NCUA reported March 28 that following a twice-annual review, the highest estimated amount credit unions have yet to pay in corporate assessments has declined by $900 million.
Agency says reduction in 2013 corporate assessment not in the offing but have passed the halfway point in overall payback.
The reduced corporate bill is the result of legacy asset performance and the macroeconomic factors used to project their future performance, the NCUA said in a release.
Moves to both high and low estimates.
Without a doubt, the most loyal members at USE Credit Union are those who have been around for decades and consider the cooperative not just their primary financial institution but the only one worthy of their business.