The NCUA received $1.073B of the $1.4B JPMorgan settlement. Lawyers got the rest.
In an exclusive interview, watchdog Congressman Darrell Issa (R-Calif.) confirms net settlement number revealed last week by an unnamed NCUA source.
Federally insured credit unions could potentially receive a rebate on corporate assessments, according to a Feb. 12 release from the NCUA. However, the final tally won't come until 2021, the regulator cautioned.
Revealing the settlement's net gain could jeopardize ongoing negotiations with deep-pocketed Wall Street firms, NCUA's general counsel says.
JPMorgan Chase settlement eliminated future assessments, but NCUA won't reveal how much it paid in lawyer's fees.
In a sweeping order that delays proceedings on eight pending NCUA lawsuits against Wall Street banks over mortgage backed securities sold to failed corporate credit unions, U.S. District Judge John W. Lungstrum said April 29 that he will wait for the result of a related appeals court ruling, citing concerns...
NCUA Chairman Debbie Matz last week announced the selection of James Hagen as the agency’s next inspector general. Hagen, the current deputy inspector general for audit, will assume his new post June 1. He will succeed William DeSarno, who is retiring.
Kansas City judge says he'll wait for appeals court decision on bid to dismiss claims over failed securities.
Willian DeSarno to retire and James Hagen to take over IG position on June 1, agency says.
NCUA Inspector General William DeSarno told House Oversight and Government Reform Chairman Darrell Issa (R-Calif.) in a letter that amounts paid to attorneys working under contingency contracts on securities fraud suits are reasonable and are not unnecessarily high.