Newsroom

February 08, 2017

26 CUs to pay $17K over late 3Q call reports

Penalties totaling $17,485 will be paid by 26 credit unions for filing late call reports in the third quarter of 2016, the NCUA said Wednesday.

Individual credit unions' penalties range from $45 to $10,000; the median penalty was $174. The penalty funds will go to the Treasury Department, as required by the Federal Credit Union Act.

Fourteen of the credit unions fined had assets of less than $10 million, nine had 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.

In total, 40 credit unions filed late during the third quarter; NCUA found mitigating circumstances in six cases and granted waivers in six others. Two state-chartered credit unions paid penalties to their state regulators.