Is loan regime split dollar snake oil or liquid gold? How is a board to know? If it works, LRSD is a powerful tool for compensating key executives and preserving credit union assets. If it doesn’t work, the costs to the credit union and the participating executives are high.
Four of five hit this week with agency bans stole from credit unions where they were the sole employees.
Three of four bans involved thefts that took down the small institutions.
Oklahoma, Texas credit unions taken down by internal fraud; managers banned by NCUA.
NCUA Inspector General William DeSarno told House Oversight and Government Reform Chairman Darrell Issa (R-Calif.) in a letter that amounts paid to attorneys working under contingency contracts on securities fraud suits are reasonable and are not unnecessarily high.
NCUA inspector general responds to California congressman's concerns about legal fees for Wall Street suits over securities losses.
CUSOs, appraisals, member business lending and the Central Liquidity Facility are among the regulations the NCUA will review in 2013.
Giovanna Liranzo hit with NCUA ban in connection with embezzlement from McCoy FCU in Florida.
Trade organizations have submitted their regulatory wish lists to the NCUA as the agency prepares to undergo its annual rule review.
Washington state and Massachusetts cases result in convictions, NCUA prohibition.