The debate over the fate of small credit unions continued on CUinsight’s blog last week with Henry Meier of the Credit Union Association of New York interjecting that “the days of treating your examiner as your de facto compliance officer are over.”
Compliance is the cost of doing business and if you can’t bear those costs, you won’t be in business.
The NCUA on Saturday said that Western Bridge Corporate Federal Credit Union has been formally liquidated.
NCUA order allows Thomas Swedberg to work for natural person credit unions, but not corporates.
Former exec demands to see the documents.
Sacramento credit union replaces processing work it had been doing with a failed corporate credit union with an in-house system from Bluepoint Solutions.
Suits against Wachovia Capital Markets for U.S. Central, WesCorp losses combined into one.
Still suffering from the bite of losing all their Western Corporate FCU capital in 2009, credit unions report they are still capital shy when it comes to replacing corporate services.
WesCorp members seek new home for services, shy from staking new capital. Get the story in next week's print edition today in this print preview.
Most credit union leaders decline comment on order against failed corporate leaders but some criticism emerges.