Settlement resolves suits over corporate credit union failures.
NCUA declares three-year corporate system rescue effort complete.
Saying that it failed to disclose the risks to two now-defunct corporate credit unions, the NCUA is suing the company formerly known as Wachovia Securities.
Agency goes after firm now known as Wells Fargo Securities for mortgage-backed securities sales to U.S. Central, WesCorp.
The NCUA sued investment bank Goldman Sachs last week, seeking damages of more than $491 million and alleging misrepresentations by the firm when selling mortgage-backed securities to U.S Central and Western Corporate credit unions.
Agency adds to list of actions filed against investment banks in wake of corporate collapses.
See you in court. After failing to reach an agreement with two of the largest investment bank to recover losses from mortgage-backed securities sold to corporate credit unions, the NCUA last week filed civil lawsuits against RBS Securities, a Royal Bank of Scotland unit, and J.P. Morgan Securities. The agency is...
The NCUA on Monday filed suit to recover more than $800 million from JP Morgan Securities and RBS Securities for losses from what the agency alleges were faulty securities.
Unfortunately, it has become increasingly difficult for the credit union industry to discuss the NCUA board’s regulatory rulemaking without a profusion of expletives. The NCUA’s regulatory pendulum has swung from the overly permissive cheerleading that led to the corporate credit union crisis to the opposite extreme of paralyzing restrictions and...
The industry's latest corporate crisis wound up again getting national attention Monday night in a segment on Fox Business Network featuring interviews with CUNA President/CEO Bill Cheney and one of the Wall Street Journal writers of "bailout" fame.