Fraudulent activity covered up by top leadership and a failure by NCUA examiners to adequately follow up on red flags caused the failure of St. Paul Croatian FCU, according to a report by the NCUA's Office of Inspector General.

Total foreclosure filings, which includes default notices, scheduled auctions and bank repossessions rose 4% over last quarter but were still 1% lower than they were last year.

The mortgage-backed securities from the conserved corporate credit unions that the NCUA is selling have 0% risk and are backed by the full faith and credit of the government, the Federal Reserve and three other regulators concluded.