ALEXANDRIA, Va. — CUSOs would have to submit financial reports to the NCUA and there would be limits on the investments certain credit unions can make in CUSOs, according to a proposed rule the NCUA sent out for comment on July 21.
The NCUA has sued RBS Securities for $685 million, alleging that that firm misled Western Corporate FCU (WesCorp) when it sold it mortgage-backed securities.
Second suit against RBS Securities seeks $685 million for mortgage-backed securities sold to WesCorp.
Order asks agencies to produce plans for cutting excessive, duplicative regulations within 120 days.
President Obama will again meet with congressional leaders today to try to find a way to raise the debt ceiling.
Community banks awarded millions of dollars for small business lending
Trade lobbyists poised to keep eye on tax emption during debate process.
Credit unions and their trade groups appear to be voicing support for the NCUA plan to allow credit unions to prepay some of the cost of the bailout of corporate credit unions.
CUNA CEO's letter to NCUA Chairman Debbie Matz says higher prepayments would allow corporate rescue assessments to further decline.
ALEXANDRIA, Va. — Corporate rescue plan revamped after industry concerns; increases maximum participation amount and raises aggregate total to go forward.