Leaders of Har-co Federal Credit Union told its members that the CU needed to convert to a federal thrift charter in order to serve more people, but the NCUA has no record of the CU ever applying for a community charter.
In a complicated ruling last week, Judge George Wu opened a door that had seemed closed, by agreeing to allow cases against WesCorp's outside directors to proceed.
Todd Harper, who was a top aide to credit union supporter Rep. Paul Kanjorski (D-Pa.) has been named director of the NCUA's Office of Public and Congressional Affairs, the agency announced today.
I was reading through editorials by my predecessors as I was preparing to write this week's column, looking for inspiration.
The Appellate Division of the New York State Supreme Court yesterday granted MBIA's motion to dismiss a suit brought against it by a group of banks that had sought to block the transformation of the Armonk NY financial insurance company.
State Employees Credit Union of North Carolina CEO Jim Blaine is a man on a mission, and it starts with a $135 million gain from selling off SECU's Treasuries portfolio in the third-quarter 2010.
John McKechnie, who has headed the NCUA's Office of Public and Congressional Affairs for almost five years, plans to leave the agency early next year to take an as yet unannounced job in the private sector.
Congress has passed a two-year wage freeze for executive branch employees but the NCUA said it hasn't decided whether it will adopt it for the agency's employees.
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.