-
By Heather Anderson |
May 8, 2013
In a sweeping order that delays proceedings on eight pending NCUA lawsuits against Wall Street banks over mortgage backed securities sold to failed corporate credit unions, U.S. District Judge John W. Lungstrum said April 29 that he will wait for the result of a related appeals court ruling, citing concerns...
-
By Heather Anderson |
April 30, 2013
Kansas City judge says he'll wait for appeals court decision on bid to dismiss claims over failed securities.
-
By Heather Anderson |
April 17, 2013
Louisiana Corporate Credit Union has emerged victorious from a decade-long suit involving the liquidation of National Century Financial Enterprises. The corporate, in an announcement last week, said it has agreed to a $600,000 settlement with Credit Suisse, the last remaining defendant in the securities fraud case.
-
By Heather Anderson |
April 10, 2013
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.
-
By Heather Anderson |
April 9, 2013
CEO David Savoie says 98% of losses recovered. Legal fees at 10% sharply lower than NCUA contingent fees.
-
By Heather Anderson |
April 2, 2013
Corporate collapse settlement totals now top $335 million, agency says. Lawyers to get $84 million. Corporate rescue assessment to be determined.
-
By Marc Rapport |
January 4, 2013
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.
-
By Debbie Matz |
December 19, 2012
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.
-
By Heather Anderson |
December 17, 2012
Ninth suit filed so far by NCUA in the sale of toxic mortgage-backed securities to corporate credit unions.
-
By Michelle A. Samaad |
July 31, 2011
The Small Business Administration has announced a new fund that will focus exclusively on providing capital to Michigan businesses.
