The five members who are suing the NCUA for what they claim was negligence on the agency's part in the collapse two years ago of New London Security Federal Credit Union will have to wait to recover any monetary damages.
The NCUA, which over the weekend conserved AEA Federal Credit Union, reaffirmed Tuesday its policy of resolving CU failures on a case by case basis, choosing among liquidation, merger or ongoing preservation.
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As the liquidating agent, the NCUA said by law, it is the party, not members or others, to pursue actions first to recover monetary losses that followed the failure of New London Security Federal Credit Union.
As forecast in September-and months before that-the merger route for corporates is quickly coming home to roost with predictions that more plans might surface this month.
What the trade associations and certain credit union leaders can't accomplish, President Obama and Congress might be able to achieve.
The $2.5 billion Georgia Corporate Federal Credit Union cleared a key hurdle Tuesday in its bid to be a merger partner next year with the NCUA-conserved Southwest Bridge Corporate FCU of Plano, Tex.
NCUA employees and other federal employees could have their pay frozen if Congress approves a proposal announced today by President Obama.
The corporate focus and how the industry deals with service options as a result of the NCUA's restructuring turned mostly to Connecticut last week, with continued interest in the
In its latest assault on credit unions' the tax exemption, the banking lobby has seized on a suit filed by the NCUA to recover losses in a 2009 Nevada credit union failure as evidence CUs are handing out loans to nonmembers on a broad scale.