NCUA Fines 24 CUs for Late Filing 2nd Quarter 2016 Call Reports

The National Credit Union Administration (NCUA) announced that 24 credit unions have agreed to pay civil monetary penalties for late filing their 2nd quarter 2016 Call Reports.

In comparison, 14 credit unions consented to civil monetary penalties a year ago.

The total amount of fines paid were $9,364. Individual penalties ranged from $150 to $1,057. The median penalty was $303.

Of the 24 credit unions agreeing to pay penalties for the second quarter of 2016:

• Sixteen had assets of less than $10 million;
• Five had assets between $10 million and $50 million; and
• Three had assets between $50 million and $250 million.

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

NCUA informed late filing credit unions that their fines could be reduced if they signed a consent agreement.

Read the press release.