William J. Memmer accused of stealing $1.8M and understating assets by $5.7M, causing failure of $15.5M GICFCU.
Linda Sweet, president and CEO of the $56 million Big Valley Federal Credit Union in Sacramento, Calif., told Congress Dec. 3 the declining number of credit unions in the U.S. is partly due to the mounting compliance burden coming from the federal government.
NAFCU witness tells congressional panel that new CFPB rules add to the problem.
Now that the NCUA board has approved a proposal that would require all CUSOs to file financial reports directly with the regulator and the appropriate state supervisory authority, some CEOs of member business lending CUSOs have weighed on what the the changes may mean for their operations.
A Nov. 1 Inspector General report said NCUA divisions reported different estimated share insurance fund loss amounts for all six purchase and assumption agreements completed during a 2012 review period.
New report cites variances in liquidation, P&A losses, and from reporting offices within agency.
Examiners, board members and management all take hit in report about failure of Oregon credit union.
ALEXANDRIA, Va. — On July 25, the NCUA Board approved a 0.08% 2013 assessment to federally insured credit unions for the Temporary Corporate Credit Union Stabilization Fund. Those eight basis points represent the lowest end of the NCUA’s estimate of eight to 11 basis points announced in November 2012 and...
ALEXANDRIA, Va. — NCUA to impose the lowest corporate assessment on credit unions since making their first payment in 2009.
Trade associations are hopeful the NCUA will reduce its 2013 operating budget during its monthly board meeting July 25. While the board’s open meeting agenda has not yet been released, historically the federal regulator makes mid-year adjustments to the operating budget and announces the annual corporate assessment rate in July.