Failures

Despite consensus that regulators should ease so-called “living will” requirements by some degree, critics charge that a proposal by the Fed and FDIC could undo gains in making large banks easier to resolve.

Edward Rostohar was arrested after his wife informed authorities he stole from CBS Employees Federal Credit Union and was preparing to flee the country.

The National Credit Union Administration liquidated the $21 million-asset institution after determining it was "insolvent with no prospects of restoring viable operations."

PricewaterhouseCoopers settled a lawsuit in which the FDIC accused it of negligence in its role as external auditor for Colonial Bank. But FDIC board member Martin Gruenberg objected because the firm did not accept blame.

The National Credit Union Administration board held its monthly open board meeting Thursday – likely board member Rick Metsger's last hearing with the panel before two new members join.

Despite strong performance in the industry overall, analysts expect regulators to shutter more institutions in the years ahead.

The National Credit Union Administration board voted to decrease the normal operating level for the share insurance fund in addition to prioritizing alternative capital as part of its regulatory reform.

The National Credit Union Administration on Thursday approved a two-year budget as the board credited the merger of two funds with helping CUs stave off assessments amid a surge in liquidations.

Examiners could have done more to minimize the brunt to the Deposit Insurance Fund from Washington Federal Bank for Savings, which hid fraudulent loans and will cost the fund more than $80 million, according to a report from the Treasury’s inspector general.

The $263 million portfolio has been covered by a loss-share agreement since an investor group bought the failed BankUnited in 2009.