26 CUs Fined for Late Filing Q3 2016 Call Reports

The National Credit Union Administration announced that 26 federally insured credit unions consented to $17,485 civil monetary penalties for filing late Call Reports in the third quarter of 2016.

In comparison. one year ago 22 credit unions consented to penalties.

Individual penalties ranged from $45 to $10,000. The median penalty was $174.

Of the 26 credit unions agreeing to pay penalties for the third quarter of 2016:

• Fourteen had assets of less than $10 million;
• Nine had assets between $10 million and $50 million; and
• Three had assets between $50 million and $250 million.

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

Read the press release.