ALEXANDRIA, Va. - (09/27/05) - NCUA said Monday it fined 16 creditunions a total of $178,750 for filing late Home Mortgage DisclosureAct reports, the first time ever the agency has issued such fines.Credit unions are required to collect HMDA data throughout the yearand to file a report annually with the Federal Reserve by March 1of the following year. The credit unions assessed the fines are:White River CU, NEBO CU, California Lithuanian CU, Norton CommunityCU, Valley Oak CU, Moapa FCU, Arizona FCU, Hawaii State FCU,Hawaiian Tel FCU, Marine CU, Golden Key FCU, Hillcrest CU, SchoolEmployees Lorain City CU, Members Advantage CU, Rouge Employees CUand Jefferson County Employees CU. The largest fine of $15,000 wasassessed Norton Community CU, while the average fine was$8,500.
-
Backed by tech billionaires, the crypto-focused digital startup bank's timely application reflects the current administration's openness to new tech-driven banking models — and raises concerns about regulatory impartiality, considering its backers' political ties.
6h ago -
The application follows on the heels of Circle and Wise, as crypto and payment companies seek crypto custody approval and direct access to the Federal Reserve payment system.
6h ago -
The credit union regulator, responding to a recent executive order, has established strict new standards for prosecuting financial crimes. Regulators are now supposed to make criminal referrals only in cases where putative defendants appear to have known they were breaking the law.
7h ago -
Three bank trade associations recommended phasing out paper checks to reduce government payment fraud in a joint statement submitted to the U.S. Treasury.
8h ago -
Baton Rouge-based Investar Holding Corp. has agreed to pay $84 million for Wichita Falls Bancshares, which operates five branches in the Dallas-Fort Worth Metroplex.
9h ago -
A federal judge in New York has rejected Huawei's effort to toss charges alleging bank fraud, sanctions violations and trade secrets theft.
9h ago