Corporate credit union investment suit targets Wells Fargo trustee obligations.
Suit claims defendants failed to perform duties related to residential mortgage-backed securities.
Hearings may have decreased the NCUA's annual budget increases, but it wasn't the only influence.
It's not just hearings or lack thereof that influence NCUA budget increases.
NCUA says onsite WesCorp and other corporate examiners were limited by regs, not influenced by executives.
NCUA official says a lack of regulatory authority is to blame. Material loss reviews concur.
Read about new hires, promotions, retirements and other career milestones from the credit union industry.
The NCUA fights court orders to provide documents that provide more information regarding who was responsible for corporate losses.
The NCUA refuses to provide subpoenaed documents that could detail management and examiner responsibility for corporate failures.
It was more than five years ago – March 2009 – when the NCUA seized WesCorp and U.S. Central, and thus began a shakeup that would completely redraw the map of corporate credit unions and their spokes. That story has been told, extensively, in CU Times.