NCUA Hands Out $150,000 in Fines for Late HMDA Reports

ALEXANDRIA, Va. – NCUA announced yesterday it assessed more than $150,000 in fines to 22 credit unions for filing late reports required under the Home Mortgage Disclosure Act. NCUA only began assessing fines for late HMDA filing in 2005, fining 18 credit unions a total of $200,000 for the regulatory violation. The largest fine in the latest round, of $12,250, was assessed Rockland Employees FCU, in Spring Valley, N.Y. The smallest fine of $5,500 was assessed Golden Key FCU, in El Paso, Texas. The average fine was $7,000.