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Author Archives: Author
Credit Union Placed Into Conservatorship
ALEXANDRIA, Va. (July 22, 2011) – The National Credit Union Administration (NCUA) today assumed control of the operations of Saguache County Credit Union, a state-chartered, federally insured credit union headquartered in Moffat, Colo. The Commissioner of the Colorado Division of Financial Services appointed NCUA as conservator for Saguache County Credit Union. The state placed the [...]
Arrowhead Reports Improvements
ALEXANDRIA, Va. – Arrowhead Central Credit Union of San Bernardino, Calif., today reported continually improving financial results for the second quarter ending June 30, 2011. Arrowhead Central Credit Union, which operates under conservatorship of the National Credit Union Administration (NCUA), posted net income of $11.3 million through the second quarter and improved its net worth [...]
Results of NCUA Board Meeting
ALEXANDRIA, Va. (July 21, 2011) – The National Credit Union Administration (NCUA) Board today convened its seventh regular open meeting in 2011 at the agency’s headquarters and unanimously approved six items: Changes to NCUA’s 2011 operating budget after a thorough mid-session review that will return $2 million to credit unions; Clarifications to corporate [...]
Webinar Now Archived
ALEXANDRIA, Va. (July 21, 2011) – The National Credit Union Administration (NCUA) today posted online its July 11 webinar on the Voluntary Prepayment of Corporate Stabilization Fund Assessments program. During the webinar, NCUA Board Chairman Matz and senior NCUA staff briefed more than 2,000 participants from the credit union industry and public. Adopted by the [...]
Stronger, Safer Financial System
ALEXANDRIA, Va. (July 21, 2011) – National Credit Union Administration (NCUA) Board Chairman Debbie Matz commented at the start of today’s Board meeting about the first anniversary of the Dodd-Frank Wall Street Reform and Consumer Protection Act. The comments of Chairman Matz follow: ―As we begin this Board meeting, I want to take a few [...]
NCUA July Board Meeting Agenda
ALEXANDRIA, Va. (July 20, 2011) – The National Credit Union Administration (NCUA) Board meeting agenda issued for Thursday, July 21 has been modified. One item has been deleted from the open session – Final Rule, Net Worth and Equity Ratio Definitions. The revised agenda for this week’s meeting is available online at: http://www.ncua.gov/GenInfo/BoardandAction/Calendars/Meetings/2011.aspx NCUA is [...]
NCUA Issues Prohibition Order
ALEXANDRIA, Va. (July 18, 2011) – The National Credit Union Administration (NCUA) has issued an order prohibiting the following individual from participating in the affairs of any federally insured financial institution: Amy Shufelt-Cure, a former employee of Columbia Greene Federal Credit Union, Hudson, N.Y., was convicted of petit larceny. Shufelt-Cure was sentenced to probation [...]
NCUA Files Third Suit
ALEXANDRIA, Va. (July 18, 2011) – The National Credit Union Administration filed another suit today in California against RBS Securities, Inc. alleging violations of federal and state securities laws and misrepresentations in the sale of securities to the failed Western Corporate Federal Credit Union (WesCorp). This law suit follows two similar legal proceedings filed in [...]
Debit Card Interchange Fee Standards
The Federal Reserve Board on Tuesday published lists of institutions that are subject to, and exempt from, the debit card interchange fee standards in Regulation II, which implements provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act. These lists, available at www.federalreserve.gov/paymentsystems/debitfees.htm, are intended to help payment card networks and others determine which [...]
Capital Reform