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IG Slams Execs, Board and NCUA for Mistakes on Members United Corporate FCU

By Claude R. Marx

According to the agency’s Officer of Inspector General, poor investment decisions by executives and volunteers and inadequate oversight by the NCUA were the key factors in the heavy losses at Members United Corporate Federal Credit Union that caused the NCUA to have to conserve it,

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Facebook Photo Released by CU Shows Alabama Tornado

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Trades Urge Changes in Complaint Process for New Consumer Bureau

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May 10, 2011

On-Site Coverage: Critics of NCUA Make Case For Reform

GREENBELT, Md. — Saying that the NCUA and other regulators are marching toward “regulatory extremism,” the leader of a movement aimed at pressuring Congress to make changes to the NCUA last night outlined the extent of his frustrations with the status quo.

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May 10, 2011

Equifax Reports 24% Increase in Auto Loan Originations

The total number of auto loans originated in January 2011 is up nearly 24% over January 2010 originations, according to Equifax’s National Credit Trends Report for March 2011.

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May 10, 2011

On-Site Coverage: Tighter Mortgage Deadlines Could Help CUs Capture REO Market

WASHINGTON — Credit unions could capture a bigger portion of the market for distressed properties if they could consistently approve mortgage applications in less than 30 days, according to a mortgage finance executive.

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May 10, 2011

Corporate One Credit Union Cites 'Overwhelming' Response to Member Capital Drive

CEO Lee Butke expects 850 natural member credit unions to sign on by year end.

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May 09, 2011

New Payments Corporate Forming Out Of U.S. Central

NCUA has given the green light to an organizing committee to proceed with forming a payments corporate out of the present payments-related functions at U.S. Central Bridge.

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May 09, 2011

NCUA Further Expands Disaster Response

The NCUA has added counties in Iowa, Kentucky, Mississippi and Tennessee and parishes in Louisiana to its disaster response efforts as a result of the Obama administration’s additional declarations of disaster areas following the recent tornadoes and storms.

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May 09, 2011

On-Site Coverage: CUs Looking at Status of Loan Originators

WASHINGTON — Credit union mortgage lenders are having to wrestle with how they will employ and pay their mortgage loan originators after a ruling from the Department of Labor that mortgage originators are not exempt from wage and hour laws.

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IG Slams Execs, Board and NCUA for Mistakes on Members United Corporate FCU

Facebook Photo Released by CU Shows Alabama Tornado

Trades Urge Changes in Complaint Process for New Consumer Bureau

Recommended Just For You

News Stories

On-Site Coverage: Critics of NCUA Make Case For Reform

Equifax Reports 24% Increase in Auto Loan Originations

On-Site Coverage: Tighter Mortgage Deadlines Could Help CUs Capture REO Market

Corporate One Credit Union Cites 'Overwhelming' Response to Member Capital Drive

New Payments Corporate Forming Out Of U.S. Central

NCUA Further Expands Disaster Response

On-Site Coverage: CUs Looking at Status of Loan Originators