The lights are snapping off at U.S. Central Bridge–probably on December 31, 2012, the last day the failed corporate will perform ACH processing, per a memofrom NCUA official Scott Hunt that was distributed to U.S. Central users yesterday.
Other functions have earlier shut down dates. Automatic settlement's last day, for instance, is May 31, 2012, according to a separate memoissued yesterday by U.S. Central Bridge CEO Francois Henriquez. The last day for international wire requests is March 31, also per the Henriquez memo.
Bottomline, industry experts told Credit Union Times, is that the two memos made plain that NCUA in fact plans to shut down the bridge and hopes to finish the job this year.
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