August 27, 2014

NCUA announces 75 late Call Report filers

Aug. 27, 2014 – NCUA announced Monday that 75 federally insured credit unions were late filing their second quarter Call Reports – 5300s – and now face potential money penalties.

NCUA will alert late filers in September of the penalties they will need to pay, which are based off of the credit unions' size, lateness in filing and history of violations.

The agency did not release the name of the credit unions that filed late, but noted that four of the credit unions also filed late in the first quarter and that 63 of them have assets of less than $50 million.

NCUA noted in Monday's statement that 104 credit unions missed the Call Report filing deadline in the first quarter. After NCUA reviewed the cases, 62 credit unions paid civil money penalties totaling $57,750.