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.
ALEXANDRIA, Va. — The NCUA Board Tuesday approves adjustment to 2012 operating budget that will apply $2 million in savings to 2013 spending.
ALEXANDRIA, Va. — The 2012 corporate rescue fund assessment to reduce annualized return on average assets an estimated 8 basis points industry wide.
ALEXANDRIA, Va. – Federally insured credit unions have two new proposed rules to consider, new corporate assessment after the NCUA Board met Tuesday.
ALEXANDRIA, Va. — Federally insured credit unions will be charged 9.5 basis points this year for the Temporary Corporate Credit Union Stabilization Fund.
The Temporary Corporate Credit Union Stabilization Fund made progress against legacy asset losses in 2011, improving the fund’s net position from 2010, according to audited financial statements released by the NCUA. The fund also received a clean report from outside auditors.