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The NCUA board also learns that through the end of June, liquidations cost the Share Insurance Fund $42.6 million.

The exact timing of the interest rate notice from the NCUA remains unclear.

The special dividend follows an $18 million payout in 2014.

The NCUA says Kressman will serve as acting GC while "we continue to conduct our search for the next General Counsel of the NCUA."

James Farrell already paid full restitution and has since secured a job as a bookkeeper for a law firm.

Credit union members will vote on the proposed merger on Dec. 9.