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Nearly $175,000 in Civil Money Penalties Assessed Against 22 CUs

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.

By Staff Writer | Updated on March 13, 2007

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.

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