Arrowhead Assessed Civil Money Penalty by NCUA for Late Submission of HMDA Data

ALEXANDRIA, Va. – NCUA has issued an order of assessment of civil money penalty against Arrowhead Central CU for late submissions of data required by the Home Mortgage Disclosure Act. As a result of the order, Arrowhead based in San Bernadino, Calif. has to pay $22,500. Credit unions are required to collect HMDA data throughout the calendar year and file the data with the Federal Reserve Board by March 1st of the following calendar year.