Closed Board Meeting July 23, 2012

July 2012

Board Action Bulletin

The NCUA Board voted unanimously to uphold the decision of the Asset Management and Assistance Center denying a creditor claim arising from the liquidation of Borinquen Federal Credit Union.

The NCUA Board considered two supervisory matters that remain confidential at this time.

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The NCUA is the independent federal agency created by the U.S. Congress to regulate, charter and supervise federal credit unions. With the backing of the full faith and credit of the United States, the NCUA operates and manages the National Credit Union Share Insurance Fund, insuring the deposits of more than 124 million account holders in all federal credit unions and the overwhelming majority of state-chartered credit unions. The NCUA also protects consumers and educates the public on consumer protection and financial literacy issues.