The NCUA announced Tuesday it has revised its definition of a “fleet” of vehicles to five or more for purposes of member business lending.
Ignacio Morales, former CEO of the $7 million Borinquen Federal Credit Union, pleaded guilty Sept. 4 to embezzling $2.3 million and causing the institution’s 2011 collapse. And, according to court documents, a former board member may also be guilty of defrauding the community development credit union.
Defunct Philadelphia credit union's manager pleads guilty, faces Dec. 7 sentencing on charges that include embezzlment, drug dealing.
Credit unions that received a notice from the IRS informing them that their tax-exempt status had been revoked due to improper filing now have specific instructions on how to have it restored.
Ignacio Morales, former manager of the failed $7 million Borinquen FCU in Philadelphia, had a good reason to not show up in court on embezzlement charges.
Letter lays out how credit unions told they have no tax exemption can prove that's not so.
NAFCU's Fred Becker made $645,998 last year; CUNA's Bill Cheney came in at $1,129,651.
Sponsors of defined benefit pension plans will be able to use excess money in their plans to fund the purchase of life insurance for their retirees for the first time.
Despite a White House veto threat, the House on Thursday approved amending a 28-year-old rule requiring flexible spending account users to forfeit unused balances