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NCUANational Credit Union Administration (US government)
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So, the question boils down to whether the NCUA or credit unions would be better stewards of these funds.
The joint partners said that by partnering together they will be able to increase awareness about SBA's loan programs for credit unions and the NCUA.
NCUA has approved federal community charters with increasingly larger geographic areas and potential for economically diverse membership.
Bullock said that the NCUA was working on new guidelines to implement the changes mandated in the bill.
The credit union decided to become a co-defendant in the lawsuit because only a defendant can appeal to a higher court if the NCUA loses the case and decides not to pursue it further, said Tom Neuhaus, the attorney for Point Mugu.
NCUA guarantees the timely payment of interest and principal when due and payable up to and including the legal final maturity date for each series.
The NCUA utterly failed to negotiate competitive terms for legal services and allowed itself to be bilked," Fine said in a letter to Rep.
Similar to the other regulators, NCUA is subject to statutory criteria and federal standards on the independence and objectivity of board members, but five of the six other regulators have additional controls and procedures relating to independence.
The NCUA presently allows supervisory committees to engage nonlicensed individuals to perform an opinion audit on their behalf.
The NCUA said the Federal Credit Union Act allowed the agency to modify rules to keep credit unions financially stable.
The NCUA will announce their acceptance as conservator of Valley Credit Union in a press release, which will be available on their Web site at www.
When the NCUA signed the settlement agreement with JPMorgan Chase and its subsidiary, the federal agency was pursuing claims against third parties involved in the faulty residential mortgage-backed securities.