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Tuesday, April 21, 2015
NCUA Files Another Suit Against Wall Street Bank
ALEXANDRIA, Va. — NCUA has filed another suit against one of the major Wall Street banks in relation to the failed corporate credit unions.
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ALEXANDRIA, Va. — NCUA's Corporate Resolution Program continues to run in the negative range, making it unlikely that the regulator will charge future assessments to credit unions for the Stabilization Fund. more »
NCUA's Temporary Corporate CU Stabilization Fund has received its sixth consecutive clean audit, the regulator said today, but this time with a change-this was the first year the fund saw a net positive position. more »
ALEXANDRIA, Va.—The 10th Circuit Court of Appeals today revived NCUA's suit against Barclays Capital that claims the bank misrepresented more than $555 million in mortgage-backed securities (MBS) that led to the failure of Western Corporate FCU and U.S. Central FCU. more »
MUSKEGO, Wis. — Jim Schrimpf has retired from his position on the board of directors at Corporate Central CU here, with Jay Magulski set to take his place on the corporate CU's board. more »
Members of System United Corporate Federal Credit Union (SunCorp) voted "overwhelmingly" to approve a proposed merger with Alloya Corporate FCU, the two corporates said on Thursday. more »
System United Corporate Federal Credit Union (SunCorp) and Alloya Corporate FCU on Thursday said NCUA has approved the application for SunCorp to merge into Alloya. more »
The Supreme Court has denied an appeal from several banks regarding a lawsuit filed by NCUA concerning the sale of mortgage-backed securities that contributed to the failure of two corporate credit unions more than seven years ago. more »
ALEXANDRIA, Va. — NCUA said it has filed suit in federal court against U.S. Bank N.A. and Bank of America N.A., alleging these institutions violated state and federal laws by failing to fulfill their duties as trustees for 99 residential mortgage-backed securities trusts. more »
WASHINGTON — The National Credit Union Administration on Monday joined a growing queue of angry investors suing Deutsche Bank National Trust Co. more »
WESTMINSTER, Colo. and WARRENVILLE, Ill. — System United Corporate Federal Credit Union, better known as SunCorp, on Wednesday announced its intent to merge with Alloya Corporate Federal Credit Union of Illinois. more »
NASHVILLE, Tenn. and LOUISVILLE, Ky. — The Tennessee Department of Financial Institutions gave the nod to the proposed merger of Kentucky Corporate Credit Union and Volunteer Corporate Credit Union, the final step toward completing the union, VolCorp reported. more »
ALEXANDRIA, Va. — Total projected assessments from the NCUA's Temporary Corporate Credit Union Stabilization Fund dropped by $2.2 billion during the second half of 2013, the regulator announced Tuesday, adding it was "hopeful" that no future CU assessments would be necessary. more »
ALEXANDRIA, Va. — The Temporary Corporate Credit Union Stabilization Fund received a fifth consecutive clean audit opinion, NCUA said Monday. more »
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Don't Freak Out
After a recent rebrand as Verve, a Credit Union, the CU uses this spot to re-introduce itself - and its new name - and its new spokesman, Merv.
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