WASHINGTON — NCUA came down on 22 federally insured credit unions that were late submitting their 2005 Home Mortgage Disclosure Act data to the tune of nearly $175,000 in assessed civil money penalties.
CUs are required to send the prior year's HMDA loan/application registers to the Fed by March 1. NCUA sent out a regulatory alert back in January to inform CUs of the steps taken to ensure proper transmittal of the data and follow-up with the Fed for this year's data, due today.
Failure to file by the deadline may occur if the report was not transmitted at all or if there were errors or delays in transmittal, NCUA said. NCUA emphasized that credit unions are responsible for following up with the Fed to ensure their data is received and loaded into the Fed's database.
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
Already have an account? Sign In Now
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
