The Libor price-fixing scandal, in which the London-based bank and financial services company Barclays manipulated Libor submissions to give a healthier picture of the bank’s credit quality in 2007 and 2008, has had little material effect on credit unions, according to industry experts. However, corporates that owned Libor-indexed assets during...
Two member credit unions say they aren’t running for the exits at Corporate America Credit Union following the July 3 announcement that CEO Thomas Bonds had resigned from the $3.3 billion corporate. However, they expressed disappointment and concern that the maverick and charismatic leader will no longer lead the Irondale,...
Members, merger partner stick around following last week’s announcement that CEO Thomas Bonds had resigned from the $3.3 billion corporate.
NCUA order allows Thomas Swedberg to work for natural person credit unions, but not corporates.
NCUA Board Member Michael Fryzel and CUNA President/CEO Bill Cheney participated in a panel discussion Tuesday at the annual MDDCCUA convention.
Suits against Wachovia Capital Markets for U.S. Central, WesCorp losses combined into one.
Most credit union leaders decline comment on order against failed corporate leaders but some criticism emerges.
The NCUA has failed to prove that J.P. Morgan Securities the firm made “material misrepresentations” to the corporate credit unions when selling them residential mortgage-backed securities, according the firm’s court filing. And with that J.P. Morgan asked a federal judge to dismiss the agency’s June lawsuit against it.
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...
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.