In a sweeping order that delays proceedings on eight pending NCUA lawsuits against Wall Street banks over mortgage backed securities sold to failed corporate credit unions, U.S. District Judge John W. Lungstrum said April 29 that he will wait for the result of a related appeals court ruling, citing concerns...
No credit union website takedowns reported Tuesday.
The NCUA has contradicted itself regarding the basis of a member’s lawsuit against the $161 million St. Helens Community FCU of St. Helen, Ore., and the examples of those contradictions are documented and working their way into court.
The NCUA’s official reason for liquidating the $2.4 million Shiloh of Alexandria FCU on April 12 is that the community development credit union was insolvent and had no prospect for restoring viable operations.
Credit unions with offices in the northwest Boston suburbs where one bombing suspect was killed late last night are closed as ordered by area police.
Agency says it's not taking sides in dispute over attempt to recall board members at Oregon credit union.
Purchase price not disclosed for 129,321-square-foot facility that once housed one of the largest of the corporate credits unions, pre-collapse.
The NCUA reported April 2 that it scored a $165 million win against Wall Street, reaching a settlement with Bank of America over residential mortgage-backed securities losses at failed corporate credit unions. Bank of America did not admit fault as part of the settlement, the NCUA said in a release.
The $32 million Commodore Perry Federal Credit Union told Credit Union Times March 26 that it has withdrawn its exam appeal to the NCUA Board.
Corporate collapse settlement totals now top $335 million, agency says. Lawyers to get $84 million. Corporate rescue assessment to be determined.