National Credit Union Administration
Issues Civil Money Penalties
September 23, 2005, Alexandria, Va. – The National Credit Union Administration (NCUA) has issued orders of assessment of civil money penalties against 16 federally insured credit unions for late submissions of data required by the Home Mortgage Disclosure Act (HMDA). The amount of the civil money penalties assessed against these credit unions totaled $178,750.
Credit unions must collect HMDA data throughout the calendar year and file the data with the Federal Reserve Board by March 1st of the following calendar year.
NCUA enforcement orders are online at http://www.ncua.gov/administrative_orders/Index.htm, and may be inspected at NCUA’s Office of General Counsel between 9 a.m. to 4 p.m. Monday through Friday. Copies may be ordered by mail from NCUA, 1775 Duke Street, Alexandria, Virginia 22314-3428.
The National Credit Union Administration is the independent federal agency that regulates, charters, and supervises federal credit unions. NCUA, with the backing of the full faith and credit of the U.S. government, operates and manages the National Share Insurance Fund, insuring the savings of over 84 million account holders in all federal credit unions and the majority of state-chartered credit unions.
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