Thursday, March 26, 2020

Enforcement Actions Issued in 2019 by NCUA

The National Credit Union Administration stated that the number of preliminary warning letters (PWLs) and unpublished Letters of Understanding and Agreement (LUAs) fell in 2019 compared to 2018, but the number of Cease and Desist Orders (CDOs) increased in 2019.

The following chart shows the number of PWLS, LUAs, and CDOs from 2013 to 2019.

The information on the number of PWLS, LUAs, and CDOs was obtained from a Freedom of Information Act request to the agency.

The two credit unions that were issued Orders to Cease and Desist were Defense Logistics Federal Credit Union (Dover, NJ) and Phi Beta Sigma Federal Credit Union (Washington, D.C.).

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