The NCUA will establish a new office focused solely on agency security and continuity, but the move shouldn't have a big impact on the 2014 operating budget. Public Affairs Specialist John Fairbanks told Credit Union Times the new office will be comprised mostly of existing NCUA resources.
Trade group cites five-year increase run as agency prepares to present new spending plan this month.
Agency will consolidate decentralized security effort.
Agency moves in reaction to examiner danger.
The NCUA told Credit Union Times Oct. 30 it is currently developing new exam procedures to improve the identification of fraud risk indicators, especially at small institutions.
Focus will particularly be on small institutions, agency says.
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...
It’s been about a year since two employees at the $1.6 million Enterprise Credit Union pleaded guilty to embezzling almost $1 million over a period of 10 years, but the topic still fuels the gossip mill in the small Kansas town. And, according to one prominent resident, the incident reduced...
“Once you break that type of trust, there’s no turning back.”
Agency declines to comment on accuracy of published report about settlement over failed securities, corporates.