The NCUA reported April 2 that it scored a $165 million win against Wall Street, reaching a settlement with Bank of America over residential mortgage-backed securities losses at failed corporate credit unions. Bank of America did not admit fault as part of the settlement, the NCUA said in a release.
Agency posts list of actions against securities firms since financial crisis began.
Corporate collapse settlement totals now top $335 million, agency says. Lawyers to get $84 million. Corporate rescue assessment to be determined.
PHOENIX — Now big in fraud mitigation, prevention: Taking steps to stay on top of cross channel attacks, said speakers at BAI confab.
At a time when more small businesses are looking for alternatives after being the shown the door by their longtime banks, one Arizona retailer recently went public with its frustrations.
Lew, former OMB director, currently is White House Chief of Staff and would succeed Timothy Geithner.
J.P. Morgan, others named in sale of $2.2 billion in failed mortgage-backed securities that led to collapse of WesCorp, U.S. Central and Southwest Corporate.
The surge in members over the past year may have been welcomed news for credit unions, but the overall member satisfaction experience might have suffered along the way.
This year was a transformative year for credit unions. It was a year in which credit unions made the transition from the losses of recession to the stability and growth of recovery. During the year, the industry topped $1 trillion in assets and grew strongly to approach 94 million members.
Ninth suit filed so far by NCUA in the sale of toxic mortgage-backed securities to corporate credit unions.