WesCorp

• WesCorp’s Legacy Losses Outpace Other Corporates

  By Heather Anderson  |  May 13, 2013

  As of year-end 2012, WesCorp’s estimated losses were $5.7 billion, representing 84.4% of the nearly $6.8 billion in total estimated legacy asset losses.

• CLF Was Credit Union Liquidity Solution

  By Dick Johnson  |  March 20, 2013

  Some wise person once wrote, “If we always do what we have always done, we will always get what we always got.”

• Avoid Solutions Looking for Problems

  By Sarah Snell Cooke  |  March 8, 2013

  During the Governmental Affairs Conference, Chip Filson announced his intention to seek an NCUA Board seat, which was the culmination of speeches and online postings criticizing the NCUA’s activities throughout the financial and corporate crises. He has launched a petition designed to force President Obama to consider him as a...

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  Avoid Solutions Looking for Problems: Editor/Publisher's Column

  By Sarah Snell Cooke  |  March 7, 2013

  Callahan chair's bid for reform in NCUA Board appointment process not necessarily change to embrace.

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  Barbara Nall Retiring from LA Financial; Lake Trust's Carol Galizia Takes Over

  By Peter Strozniak  |  March 7, 2013

  Nall wrapping up 46 years with Pasadena credit union while Galizia comes to L.A. from Michigan.

• WesCorp Losses Center of DOJ’s Suit against S&P

  By Heather Anderson  |  February 5, 2013

  Justice Department cites failed corporate in lawsuit, says S&P rigged ratings to please bank customers.

• NCUA Files Suit No. 10 Over Corporates Collapse

  By Marc Rapport  |  January 4, 2013

  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.

• NCUA Settles With Todd Lane in WesCorp Suit

  By Heather Anderson  |  January 4, 2013

  Confidential deal with former WesCorp CFO wraps up cases against former officers of collapsed corporate.

• NCUA Repays $1.5 Billion in WesCorp Notes from 2009

  By Heather Anderson  |  November 6, 2012

  Notes payoff called important milestone in efforts to resolve the failure of five corporates.

• Catalyst’s P&A

  By Heather Anderson  |  November 5, 2012

  The $3 billion Catalyst Corporate FCU announced Oct. 29 the completion of its purchase and assumption of the Phoenix-based First Corporate Credit Union, a so-called pass-through corporate that struggled to gain enough scale to replace services provided by U.S. Central FCU.