Paradise FCU Hit With $19K Penalty On HMDA

NCUA has assessed a civil money penalty of $19,000 against Paradise FCU here for for late submissions of data required by the Home Mortgage Disclosure Act (HMDA). The fine against the National City, Calif., credit union was the 17th assessed by NCUA for late HMDA filing over the past two weeks, and the largest. Credit unions must collect HMDA data throughout the calendar year and file the data with the Federal Reserve Board by March 1st of the following calendar year.