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November 18, 2014
NCUA: Only 47 late call-report filers in 3Q
NCUA announced that the number of federally insured credit unions filing call report data late declined to 47 in the third quarter.
The agency said it would review each case to see if it warrants a waiver of civil money penalties; otherwise, late filers will be told in early December what penalties they owe. Penalties are based on asset size, recent filing history and the length of delay, and they are collected by the Treasury Department.
NCUA Chairman Debbie Matz said efforts to work with "smaller institutions to help them file on time … will continue."
NCUA said the names of late filers required to pay penalties will be made public in late January. Forty of the late filers have assets of less than $50 million, and one had also filed late in a previous quarter.
The agency said it would review each case to see if it warrants a waiver of civil money penalties; otherwise, late filers will be told in early December what penalties they owe. Penalties are based on asset size, recent filing history and the length of delay, and they are collected by the Treasury Department.
NCUA Chairman Debbie Matz said efforts to work with "smaller institutions to help them file on time … will continue."
NCUA said the names of late filers required to pay penalties will be made public in late January. Forty of the late filers have assets of less than $50 million, and one had also filed late in a previous quarter.
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