There is, we are told, no such thing as a free lunch. For the NCUA, however, there may well be free money.
Credit unions and their trade groups appear to be voicing support for the NCUA plan to allow credit unions to prepay some of the cost of the bailout of corporate credit unions.
Credit unions in a range of sizes mostly indicated a general willingness to participate in the NCUA’s corporate credit union assessment prepayment plan. But some said they wanted more information on, or modifications to, the proposal.
SAN ANTONIO — The NCUA and other regulators are over regulating to prevent another financial crisis, and CUNA is trying to push back to give credit unions more autonomy. That was the message of CUNA's top executives during a panel discussion at America's Credit Union Conference.
See you in court. After failing to reach an agreement with two of the largest investment bank to recover losses from mortgage-backed securities sold to corporate credit unions, the NCUA last week filed civil lawsuits against RBS Securities, a Royal Bank of Scotland unit, and J.P. Morgan Securities. The agency is...
'Golden parachutes' for executives, low-income status measuring tools also on agenda.
Credit unions probably won’t have to pay a premium for the NCUSIF, but the NCUA is still trying to encourage them to part with more of their money.
NCUA Inspector General quietly reports corporate losses, says others expected to be "much higher still."
If current trends hold, the NCUA isn’t likely to have to levy a premium to shore up the NCUSIF this year, and if there is sufficient participation in the prepayment plan, assessments to repay the corporate credit union rescue could be reduced.
ALEXANDRIA, Va. — Credit unions could prepay between $10,000 and 36 basis points of insured shares toward their assessments to pay the costs of the rescue of corporate credit unions under a proposal announced at the May 19 NCUA board meeting.