J.P. Morgan, others named in sale of $2.2 billion in failed mortgage-backed securities that led to collapse of WesCorp, U.S. Central and Southwest Corporate.
Ninth suit filed so far by NCUA in the sale of toxic mortgage-backed securities to corporate credit unions.
ALEXANDRIA, Va. — A final rule approved Thursday by the NCUA Board eliminates use of credit ratings as standards of investment creditworthiness.
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.