ALEXANDRIA, Va. — In what was arguably the most important meeting of the year, the NCUA board approved a 6.7% in the 2014 operating budget, no projected corporate assessment for 2014 and a final CUSO rule. All items on the agenda received yes votes of approval from all three board...
Momentous board meeting marks end to corporate assessments, but adds hideouts and budget dodges.
Settlement resolves suits over corporate credit union failures.
Industry experts say due diligence can help credit unions avoid losses like those suffered by the $620 million Alabama One Credit Union in Tuscaloosa, Ala., and the Small Business Administration, which were defrauded of more than $3 million by a businessman.
Losses like the $3 million case involving the SBA and Alabama One can be avoided, experts say.
The NCUA would not confirm an Oct. 21 report that it has agreed to a tentative settlement with JP Morgan over mortgage-backed securities sold to failed corporate credit unions. The NCUA filed suit against JP Morgan Securities in June 2011, seeking to recover more than $800 million in losses to...
Agency declines to comment on accuracy of published report about settlement over failed securities, corporates.
Favorable loan terms, deferred payments and invitation for new members to join now.
The NCUA and CFPB have placed more emphasis on Fair Lending laws and HMDA data collection in 2013, and credit unions can expect more in 2014.
NCUA, CFPB promise more rules and exams in the year ahead.