NCUA gains another settlement for mortgage-backed securities

Recoveries from Wall Street firms have now reached $3 billion for the NCUA following a settlement with Goldman Sachs. The NCUA will received $575 million from Goldman Sachs for faulty mortgage-backed securities that were sold to five corporate credit unions between 2005 and 2007. Goldman Sachs is paying out $5 billion to settle lawsuits with […]

LEVERAGE offers website audits

A credit union’s website is a window into its business. A robust website is a prerequisite for today’s member. It’s the standard platform for credit unions to promote value and to provide 24/7/365 accessibility, as well as core values to current and potential members. You may not know that websites are subject to the same […]

NCUA expected to look at fixed asset rule again

According to sources within the NCUA, the board source is expected to amend the fixed asset rule which was passed in July 2015. The amendment will address the non-owner occupied/partial occupancy issues that were not taken care of when the current rule was passed. The League is hearing that the amendment will provide greater flexibility […]

No plans to move NCUA’s McWatters to Ex-Im Bank

Senate Banking Committee Chairman Richard Shelby (R-Ala.) said he has not decided when — or even if – the panel will consider the nomination of NCUA Board Member J. Mark McWatters to the Export-Import Bank board of directors. Even though Senate Banking Committee hearings are underway for some Obama Administration nominees, Shelby made it clear […]

Alabama Credit Union president talks regulatory burden

CUNA recently commissioned an analysis of the financial impact of regulation on credit unions. In an interview with S&P Global Market Intelligence, Alabama Credit Union’s Steve Swofford spoke about the credit union’s “involvement in the study, the importance of scale, and the tax-exempt status of credit unions.” Swofford, president of the Tuscaloosa-based credit union with […]