Tuesday, September 12, 2017

12 CUs Consent to Penalties for Late Filing Q1 Call Reports

Twelve credit unions consented to penalties totaling $2,853 for late filing their Call Reports in the first quarter of 2017, according to the National Credit Union Administration.

A year earlier, 30 credit unions agreed to penalties.

Individual penalties for the first quarter ranged from $74 to $382. The median penalty was $229.

Of the 12 credit unions agreeing to pay penalties for the first quarter, 11 had assets of less than $10 million, and one had assets between $10 million and $50 million. No credit unions with assets of more than $50 million filed late Call Reports.

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

Read the press release.
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1 comment:

  1. tony costanzoSeptember 12, 2017 at 12:34 PM

    Maybe the NCUA can use the $2853 in penalties collected as an off-set to the damn taxi medallion credit union losses. With enough penalty collections maybe they can make it up in volume. At least hire a new depart of Penalty Collection Specialists with huge travel and conference budgets, too.

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