Showing posts with label Preliminary Warning Letter.. Show all posts
Showing posts with label Preliminary Warning Letter.. Show all posts

Thursday, April 2, 2020

Number of Outstanding Enforcement Orders Fell in 2019

The National Credit Union Administration is reporting that outstanding enforcement orders against federally-insured credit unions fell in 2019.

Outstanding enforcement orders were 278 at the end of 2018. In comparison, outstanding enforcement orders at the end of 2019 were 227.

An enforcement order includes Preliminary Warning Letters (PWLs), Letters of Understanding and Agreement (LUAs), Cease and Desist Orders (CDOs), and Conservatorships.

The following table shows the number of outstanding enforcement orders by type for state chartered credit unions and federal credit unions from 2014 through 2019.

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The National Credit Union Administration stated that the number of preliminary warning letters (PWLs) and unpublished Letters of Understanding and Agreement (LUAs) fell in 2019 compared to 2018, but the number of Cease and Desist Orders (CDOs) increased in 2019.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

Tuesday, March 26, 2019

Fewer Enforcement Orders Issued by NCUA in 2018

Fewer enforcement orders were issued by the National Credit Union Administration (NCUA) during 2018.

The number of Preliminary Warning Letters (PWLs) issued during 2018 fell by 10 to 46.

Letters of Understanding and Agreement (LUAs) issued in 2018 declined to 96 from 105 in 2017. All LUAs issued in 2018 were unpublished.

There were zero Cease and Desist Orders (CDOs) issued in 2018, down from 2 in 2017.

The information was obtained from NCUA by a Freedom of Information Act request.

The following chart shows the number of orders issued by NCUA from 2013 to 2018.

Monday, March 18, 2019

Fewer Outstanding Enforcement Actions at the End of 2018

The number of outstanding enforcement actions for federally insured credit unions decreased from 296 at the end of 2017 to 278 at the end of 2018, according to the 2018 Annual Report of the National Credit Union Administration (NCUA).

Enforcement actions include Preliminary Warning Letters (PWLs), Letters of Understanding and Agreement (LUAs), Cease-and-Desist Orders (CDOs), and Conservatorships.

The following table shows the number of outstanding enforcement actions by type for both state chartered and federal credit unions between 2014 and 2018 (click on image to enlarge).

 

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