The National Credit Union Administration announced that nine federally insured credit unions have agreed to pay civil monetary penalties for filing late Call Reports in the fourth quarter of 2017.
NCUA noted that 17 credit unions were late in filing their Call Reports. Six credit unions were not fined because of mitigating circumstances and two credit unions requested and were granted a waiver.
Fines ranged from $302 to $471 and totaled $3,109. The median fine was $315.
Three factors were used to determine the amount of the fine: the credit union's asset size, its Call Report filing history, and the length of the filing delay.
All nine credit unions had been late in a previous quarter.
Read the press release.
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