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NCUA Audit Blames Norlarco Managers, NCUA and State Regulators for CU's Failure

By Claude R. Marx

The management team of the now-defunct Norlarco Credit Union inadequately managed its residential lending program, while NCUA and Colorado regulators didn't monitor the credit union closely enough or pay attention to safety and soundness concerns.

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NAFCU Flash Report Finds Rising Debt to Income Ratios and Less Interest in MBLs

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On-Site Coverage: Consumer Advocate Says Consumers Better Off Using Cash

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May 14, 2009

CUNA Asks NCUA to do More to Minimize Impact of Corporates' Woes

Credit unions holding capital in the conserved corporate credit unions should be able to share in the future recoveries of securities.

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May 14, 2009

SEC Proposes Harsher Scrutiny of Investment Advisers

In yet another move to protect investors, the Securities and Exchange Commission has proposed a list of protections that aim to scrutinize how and if investment advisers are handling their client's assets properly.

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May 14, 2009

Community First Wins UBIT Case

The IRS erroneously levied the unrelated business income tax on three financial products sold by the Community First Credit Union, a federal jury in Green Bay, Wis. ruled yesterday.

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May 14, 2009

SBA Names Randolph-Brooks FCU Top 7(a) Small Lender

The $3 billion Randolph-Brooks Federal Credit Union has been named the Small Business Administration's top 7(a) program lender in the small lending category.

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May 14, 2009

April Consumer Prices Unchanged from March; Down from Last Year

The consumer price index was unchanged in April from the previous month but falling energy prices resulted in the index being 0.7% below the same month last year, the Labor Department reported today.

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May 14, 2009

On-Site Coverage: Australian Interchange Reforms Lead to Card Surcharges

CHICAGO -- One result of Australia's 2002 credit card interchange rate reform has been a growing trend among merchants to surcharge consumers who use cards, according to an Australian bank regulator.

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May 13, 2009

NCUA to Discuss Credit Reporting Rules and Health of NCUSIF

The NCUA is scheduled to unveil final rules on what information credit unions must disclose to credit reporting agencies and hear a report on the health of the NCUSIF at its meeting next Thursday.

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Top News Stories

NCUA Audit Blames Norlarco Managers, NCUA and State Regulators for CU's Failure

NAFCU Flash Report Finds Rising Debt to Income Ratios and Less Interest in MBLs

On-Site Coverage: Consumer Advocate Says Consumers Better Off Using Cash

Recommended Just For You

News Stories

CUNA Asks NCUA to do More to Minimize Impact of Corporates' Woes

SEC Proposes Harsher Scrutiny of Investment Advisers

Community First Wins UBIT Case

SBA Names Randolph-Brooks FCU Top 7(a) Small Lender

April Consumer Prices Unchanged from March; Down from Last Year

On-Site Coverage: Australian Interchange Reforms Lead to Card Surcharges

NCUA to Discuss Credit Reporting Rules and Health of NCUSIF