Monday, July 13, 2015

The Number of 2014 NCUA Enforcement Orders

The National Credit Union Administration (NCUA) in 2014 issued 69 preliminary warning letters, 152 letters of understanding and agreement (all were unpublished), and 5 cease and desist orders.

In comparison, NCUA in 2013 issued 76 preliminary warning letters, 224 letters of understanding and agreement (of which one was published), and 1 cease and desist order.

The information was obtained through a Freedom of Information Act request.

As I have previously reported, NCUA does not publish the number of enforcement orders in its Annual Report, unlike the other federal banking regulators.
Posted by at
Labels: ,

1 comment:

  1. AnonymousJuly 14, 2015 at 6:44 AM

    Thanks for taking the initiative and time to do this. It's important information and should have been disclosed by the agency in the report. And my trade organization should insist that it's done. But I guess they are busy, still navel gazing.

    ReplyDelete

Subscribe to: Post Comments (Atom)
 

The content is provided for educational purposes only, with the understanding that neither the authors, contributors, nor the publishers of this site are engaged in rendering legal, accounting or other expert or professional services. If legal or other expert assistance is required, the services of a competent professional should be sought.

Comments appearing in response to articles appearing on this site do not necessarily reflect the views of the ABA. ABA makes no representations regarding the truth or accuracy of commentary or opinions that may be posted in response to the articles that appear on this website.

The inclusion herein of any link to a website, either in the text of an article or in a comment, does not denote any approval, sponsorship, or endorsement by the ABA, and ABA is not responsible for the content or opinions expressed on those linked websites or related commentary. This content is not licensed to third parties sites and is not affiliated with any third party site. Any reference to the author or this content on any third party site on the Internet is not authorized by the ABA.

It is the policy of the American Bankers Association to comply fully with all antitrust laws. Certain discussions should be considered off-limits, including those that contain competitively sensitive data such as price and cost information, or statements that could be construed as reflecting an attempt or desire to control or influence a particular market or markets. Future pricing or other prospective competitive information should never be shared.