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.
Measure would allow credit unions to utilize uninsured, non-share accounts to supplement capital.
This preview from the March 13 print edition takes a look at the fight against loan fraud.
With the recent guilty verdict against a businessman that scammed $7.5 million from the former Lockheed Credit Union to obtain a number of loans, the decision may have offered another instance of assurance that the public is becoming increasingly fed up with fraud.