It was a shock and it was unprecedented. The NCUA hammer brought down on the legacy assets held by the corporate system during 2010 caused it to reel as never before.
When doing the first major overhaul of corporate credit unions in eight years, the NCUA covered the regulatory waterfront.
After a brief hiatus for the week of Thanksgiving, Credit Union Times ON AIR came back strong with an episode dedicated to the NCUA's corporate legacy asset plan.
Though it has not said it in writing, the NCUA is asking credit unions to make decisions on corporate credit unions by the first part of next year.
A month or so ago I was asked to do another Q&A session for the Metropolitan Area Credit Union Management Association, but after I agreed I was told that the NCUA, which was to have a representative on a panel regarding the
NCUA Chairman Debbie Matz, speaking to Texas credit union leaders as part of the agency's town hall series last week, reaffirmed an agency pledge to honor expiring service contracts
ALEXANDRIA, VA -- The NCUA has given all corporates new examiners, made more use of outside experts and begun to hire payment system specialists.
The three corporate credit unions placed into conservatorship Sept. 24 bring the total of seized corporates to five. Operations will continue at all five corporates.
NCUA's final Part 704 corporate rules, released Sept. 24, contained few revisions to the agency's initial proposal. Most rules will become effective 90 days following the publication of final regulations in The National Register.
After months of speculation, the NCUA revealed on Sept. 24 a "good bank, bad bank" plan to deal with corporate legacy assets.