WASHINGTON - (08/05/05) -- A federal appeals court Wednesdayordered NCUA to reinstate a long-time executive for impropertermination in 2000 and ordered the federal agency to pay him asmuch as $1 million in back pay. In its ruling, the U.S. Court ofAppeals for the Federal Circuit said Tim McCollum, who worked forNCUA for more than 20 years, the last 10 as top deputy in SoutheastRegion Three, was improperly terminated after he rejected arelocation to the West Coast Region Six. Under NCUA rules, McCollumsubmitted his retirement after rejecting the move. But NCUA did notproperly acknowledge McCollum's retirement, the appeals courtruled. The court did not rule on McCollum's charges that hisrelocation was retribution for him being a whistle blower in theagency's hiring scandal in the late 1990's. McCollum claimed he wasrelocated because he contacted the Inspector General's office andimplicated then-NCUA Board member Yolanda Wheat and ExecutiveDirector Carolyn Jordan in the scandal, in which racial minoritiesand women were found to have been given illegal preference for NCUAjobs. The court sent that question back to the Merit SystemsProtection Board, which adjudicates federal worker claims. An NCUAspokesman would not comment on the case because it had beenremanded to the merit board and has not been concludedyet.
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A bottleneck at the Small Business Administration in clearing federal small business loans because of the ongoing federal government shutdown is becoming an increasingly urgent issue for small and even some midsized banks.
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BayFirst Financial, which has reported problems with SBA loans, expects to reach an agreement with its regulators in connection with credit administration and other issues.
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A report from J.D. Power indicates that the neobank Chime gained the highest percentage of newly opened checking accounts in the third quarter of 2025.
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The court upheld the Federal Reserve Board's right to block Custodia from direct access to its payment systems. The bank is considering asking for a rehearing.
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The Tacoma, Washington-based bank, which has completed two mergers since 2023, said Thursday that it will buy back up to $700 million of its own shares over the next year.
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