22 CUs Fined for Late Filing Call Reports in Q3 2015

Twenty-two federally insured credit unions have consented to civil monetary penalties for filing late Call Reports in the third quarter of 2015.

In comparison, 31 credit unions consented to fines a year earlier.

The late filing credit unions will pay a total of $18,682 in penalties. Individual penalties range from $115 to $10,000. The median penalty was $330.

Three factors primarily determine the size of assessment -- the credit union’s asset size, its recent Call Report filing history and the length of the delay.

Of the 22 credit unions agreeing to pay penalties for the third quarter of 2015:

• Ten had assets of less than $10 million;
• Eight had assets between $10 million and $50 million;
• Three had assets between $50 million and $250 million; and
• One had assets greater than $250 million.

Three of the late-filing credit unions had been late in a previous quarter.

Read the press release.