Thursday, March 17, 2016

Outstanding Enforcement Orders Down by 21 Percent at the End of 2015

The total number of outstanding enforcement actions for federally insured credit unions at the end of 2015 was down by approximately 21 percent from a year earlier.

The following table appeared in the National Credit Union Administration's 2015 Annual Report (click on image to enlarge). It shows the number of outstanding enforcement actions at year end by type of action against federal credit unions (FCU) and federally insured state chartered credit unions (SCCU) between 2010 and 2015. LUA stands for Letters of Understanding and Agreement.

The 2015 Annual Report noted: "The total number of enforcement actions at federal credit unions decreased by 24.5 percent, from 290 outstanding at the end of 2014 to 219 at the end of 2015. Total enforcement actions against federally insured, state-chartered credit unions decreased 14.6 percent, from 164 as of the end of 2014 to 140 at the end of 2015."

Total outstanding enforcement actions peaked in 2011 at 631 and has steadily declined, as the economy improved and federally insured credit unions worked to address problems.

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