NCUA policy on selection of merger partners for both voluntary and involuntary mergers is coming under harsh new scrutiny this month. The now-completed Utah consolidation is the focal point of both concern and controversy marked
Although there has been little movement since buzz started more than a year ago, micro-lending bank Grameen America Inc. said pursuing a credit union charter is still being considered.
The NCUA today confirmed reports that seized $808 million Arrowhead Central Credit Union laid off 27 employees Friday.
Nearly a month after it was placed into conservatorship by the NCUA, Arrowhead Central Credit Union has been prohibited from accepting any new member business loan applications.
With the NCUA beating the drum even louder lately to increase the member business lending cap, the regulator is still aware of the troubled loan portfolios that have plagued some credit unions.
The Senate last Thursday overcame strong Republican opposition and passed comprehensive regulatory overhaul legislation 60 to 39. All but one of the 58 Senate Democrats supported the measure, and all but three of the chamber's 41 Republicans opposed it.
The NCUA served 18 former executives and directors of U.S. Central with demand letters, alleging their breach of fiduciary duty contributed to the conserved corporate's losses.
A New York group is organizing to protect future growth and assist managers on compliance and balance sheet worries for continued viability of faith-based credit unions.
Can the NCUA back the effort underway to increase the member business lending cap while at the same time help spot and aid troubled loan portfolios?
The $876 million Arrowhead Credit Union can continue to process pending member business loan applications but not accept new ones, the NCUA said.