The former assistant manager/treasurer of the failed GICFCU receives federal prison sentence and hefty restitution bill.
William J. Memmer accused of stealing $1.8M and understating assets by $5.7M, causing failure of $15.5M GICFCU.
NCUA OIG report on $7M NCUSIF loss says regulator should ask Congress for access to independent audit reports, circumventing credit union management.
Agency review panel again backs staff in examiner harassment charge; Ohio credit union eyes courts.
Congress hasn't scrutinized the NCUA's handling of the problems at corporate credit unions very much.
A law passed by Congress giving the NCUA the power to make payments to the Temporary Corporate Credit Union Stabilization Fund without borrowing from the Treasury sparked an industry discussion about the agency's assessment process.
As the liquidating agent, the NCUA said by law, it is the party, not members or others, to pursue actions first to recover monetary losses that followed the failure of New London Security Federal Credit Union.
If the NCUA and state examiners had been more aggressive in their oversight of 10 failed credit unions and management had been more effective and taken fewer risks, losses to the
If NCUA and state examiners had been more aggressive in their oversight of 10 failed credit unions, losses to the NCUSIF could have been stopped or mitigated, according to a report by the NCUA's Office of Inspector General.
North Star Business Services LLC, a CUSO that did business with the liquidated Ensign Federal Credit Union, has been hit