Illinois CU Regulator Suspends Operations of Route 1 CU for 60 Days "Credit News 24"

The Illinois Division of Financial Institutions suspended the operations of Route 1 Credit Union (Paris, IL) for 60 days. The state regulato...

Illinois Amends St. Elizabeth CU's Suspension Order "Credit News 24"

The state of Illinois announced on October 5 that it was amending the suspension order for St. Elizabeth Credit Union (Chicago, IL). The Ill...

New Horizons CU Under Cease and Desist Order "Credit News 24"

The Alabama Credit Union Administration issued a cease and desist order against New Horizons Credit Union (Mobile, AL). The cease and desist...

Alabama CU Regulator Issues Cease and Desist Order to Craig Credit Union "Credit News 24"

The Alabama Credit Union Administration issued a cease and desist order against Craig Credit Union (Selma, AL). The cease and desist order f...

Regulator Suspends Operations of Tiny Chicago CU for 60 Days "Credit News 24"

The Illinois Division of Financial Institutions suspended the operations of St. Elizabeth's Credit Union (Chicago, IL) for 60 days in an...

NCUA to CFPB Exempt Large CUs from CFPB Exam and Enforcement Authority "Credit News 24"

National Credit Union Administration Chairman J. Mark McWatters on July 6 wrote Consumer Financial Protection Bureau (CFPB) Director Richard...

MADCO Credit Union Operations Suspended for 60 Days "Credit News 24"

The Illinois Director of the Division of Financial Institutions issued an order suspending the operations of MADCO Credit Union (Edwardsvill...

Wescom Central CU Settles Maternity Discrimination Complaint "Credit News 24"

The U.S. Department of Housing and Urban Development announced an agreement between Wescom Central Credit Union (Pasadena, CA) and a married...

Massachusetts Regulator Fines LPL $1 Million for Failing to Supervise Advisers Operating at CU "Credit News 24"

The Boston Globe is reporting that the Massachusetts Securities Division has fined LPL Financial Holdings Inc. $1 million for allegedly fail...

Disclosures, Supplemental Capital, and Material Risk "Credit News 24"

The National Credit Union Administration (NCUA) is seeking input regarding disclosures for credit unions issuing supplemental capital. The c...

Outstanding Enforcement Actions Fell in 2017 "Credit News 24"

The National Credit Union Administration (NCUA) in its 2017 Annual Report wrote that the number of enforcement actions has steadily decline...

Issued PWLs in 2017 Were Up, Issued LUAs in 2017 Were Down "Credit News 24"

Information obtained under a Freedom of Information Act showed that in 2017 there was an increase in the issuance of preliminary warning let...

Defunct Bronx CU Fined $500K by FinCEN "Credit News 24"

The Financial Crimes Enforcement Network (FinCEN) today assessed a $500,000 civil money penalty against Bethex Federal Credit Union, Bronx, ...

Tiny Philadelphia CU Under Cease and Desist Order "Credit News 24"

The National Credit Union Administration has issued a cease and desist order to S M Federal Credit Union of Philadelphia, Pennsylvania. S M ...