Final rule would remove references to credit ratings in NCUA regulations as they apply to the credit unions' analysis of investments.
Notes payoff called important milestone in efforts to resolve the failure of five corporates.
NCUA Chairman Debbie Matz and Board Member Michael Fryzel stuck to a controversy-free agenda during the agency’s October board meeting last week.
ALEXANDRIA, Va. — The NCUSIF was hit with $147.2 million in insurance losses during the third quarter, the NCUA Board learned at Thursday’s board meeting.
Calling it one more bait-and-switch operator, the NCUA sues Credit Suisse Securities in the collapse of corporate credit unions.
The NCUA on Tuesday filed its ninth securities fraud lawsuit in connection with the collapse of U.S. Central and WesCorp.
Using the NCUA’s midpoint estimates of remaining corporate stabilization costs, CUNA Chief Economist Bill Hampel estimates it would take four more years of assessments similar to the 2012 rate of 9.5 basis points to pay off corporate losses.
CUNA economist says lowering, spreading out payments would lessen impact on bottom line; NAFCU says release funds from NCUSIF.
The 2012 Temporary Corporate Credit Union Stabilization Fund assessment of 9.5 basis points of insured shares will reduce annualized return on average assets for federally insured credit unions an estimated 8 basis points industry wide, to 0.81%, the NCUA said during its monthly board meeting July 24.
80% of NCUA lawsuit claims waved forward after Kansas Federal District Court ruling.