NCUA Chairman Debbie Matz reaffirmed her support for supplemental capital for credit unions at WOCCU’s annual meeting. Credit unions’ need for capital reform can only heighten.
The $8.1 million Vensure Federal Credit Union, the Arizona credit union that at one time made most of its money by processing transactions for Internet poker sites, is no more. The NCUA announced it has liquidated the Mesa-based credit union on July 11, the same day a court case...
Although government work isn’t always lucrative, 25 NCUA employees make more than $201,000 annually, according to agency records.
A system upgrade at the $1.5 billion Kern Schools Federal Credit Union caused frustration for members who said they could neither access their accounts nor reach anyone for help.
The closing of Vensure FCU raises questions about how NCUA supervised or failed to supervise a federally chartered CU.
Crippled by mounting commercial loan losses, the $1.6 billion Texans Credit Union was placed in conservatorship on April 15 by the NCUA.
Agency says business as usual at conserved CU with focus on improving its financial condition for the long term.
The NCUA has threatened to sue four investment banks if they don’t refund $50 billion from the sale of mortgage-backed securities to five corporate credit unions that the agency conserved last year, according to several sources within the credit union industry.
The NCUA has threatened to sue four investment banks if they don’t refund $50 billion from the sale of mortgage-backed securities to five corporate credit unions that the agency conserved last year, The Wall Street Journal reported today.
The attack on NCUA policies spearheaded last December in a petition drive by a Michigan CUSO group entered a new phase last week when a Tennessee group joined the fray.