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.
Whether or not the Federal Reserve can or will appeal the July 31 court decision that overturned two-thirds of its debit interchange regulation hinges on several unresolved legal questions.
Keefe, Bruyette & Woods analysts say Justice Department could consider regulator's case too weak to pursue.