The NCUA on Sept. 23 filed nine federal lawsuits in New York against eight banks over the sale of nearly $2.4 billion in mortgage-backed securities to failed corporates Southwest Corporate Federal Credit Union and Members United Corporate Federal Credit Union.
Agency action in New York federal court on same day as NCUA goes after 13 global banks in Libor price-fixing scandal.
The NCUA late Monday said it filed an antitrust lawsuit against 13 international banks involved in the Libor rate scandal.
The NCUA won a big legal victory Aug. 27 when the U.S. 10th Circuit Court of Appeals in Denver ruled the regulator can proceed with its claims against Wall Street firms over mortgage backed securities sold to the failed U.S. Central Federal Credit Union.
Agency announces Friday it sued Morgan Stanley on Aug. 16 over fault mortgage-backed securities.
Agency hails Tuesday ruling upholding its overtime rights to file actions over corporate collapses.
Walby, who was CEO of Central Corporate Credit Union, took over as CEO of Alloya on April 30 after CenCorp merged into Alloya.
Citing the timing of cash flows, NCUA Director of Examination and Insurance Larry Fazio answered critics who have questioned the need for future corporate assessments in comments released to the press Aug. 14.
This Opinion piece looks at the NCUA's corporate credit union rescue and the accompanying assessments, and what's in store next.
NCUA Board Member Michael Fryzel's term has expired but he serves on. The corporate credit union crisis is part three of this three-part video interview.