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By Heather Anderson |
May 24, 2012
Most credit union leaders decline comment on order against failed corporate leaders but some criticism emerges.
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By Claude R. Marx |
November 6, 2011
The NCUA has failed to prove that J.P. Morgan Securities the firm made “material misrepresentations” to the corporate credit unions when selling them residential mortgage-backed securities, according the firm’s court filing. And with that J.P. Morgan asked a federal judge to dismiss the agency’s June lawsuit against it.
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By Claude R. Marx |
June 27, 2011
See you in court.
After failing to reach an agreement with two of the largest investment bank to recover losses from mortgage-backed securities sold to corporate credit unions, the NCUA last week filed civil lawsuits against RBS Securities, a Royal Bank of Scotland unit, and J.P. Morgan Securities. The agency is...
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By Claude R. Marx |
May 16, 2011
NCUA Inspector General says poor investment decisions by executives and volunteers and inadequate oversight by the NCUA were the key factors in the heavy losses at Members United Corporate Credit Union.
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By Michelle A. Samaad |
December 14, 2010
Doug Wolf, the former president/CEO of Midwest Corporate Federal Credit Union, has been hired as vice president of ProDraft Services Inc., a payment processing CUSO, effective Dec. 1.
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By Jim Rubenstein |
November 5, 2010
The NCUA-conserved Members United Corporate Federal Credit Union is opting for a full discussion of its condition--as well as the corporate/CU scene---as it continues with a packed schedule of town hall meetings.
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By Michelle A. Samaad |
September 27, 2010
The CUSOs owned by the three corporate credit unions placed in conservatorship Sept. 24 remain open for business today.
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By Heather Anderson |
September 22, 2010
Members United Corporate Federal Credit Union found one way to recover OTTIs from a previously impaired bond: sell it.
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By Heather Anderson |
June 22, 2010
Members United Corporate Federal Credit Union has announced that B. Don Crofut and David Mooney have joined the $9.5 billion corporate's Board of Directors.
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By Heather Anderson |
May 26, 2010
New losses at the $9.5 billion Members United Corporate Federal Credit Union will leave the struggling corporate hanging by its fingernails, requiring it to deplete "substantially all" of its remaining capital.
