Thursday, March 5, 2015
Appeals Court Revives NCUA MBS Suit Against Barclays
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.
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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 »
WARRENVILLE, Ill. — Alloya Corporate FCU has tapped Todd Adams, who has served as interim CEO since September, to be its new permanent CEO, effective immediately. more »
In Las Vegas where the housing market has experienced breathtaking highs and lows in the last decade, one issue at the the American Credit Union Mortgage Association's recent annual conference seemed especially relevant. more »
It's certainly not the typical CU office, as members occasionally walk by in pajamas while brushing their teeth. more »
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