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The NCUA told Credit Union Times Thursday it cannot show its hand by releasing the net amount of the JPMorgan Chase settlement that was applied to the corporate stabilization fund.
“When you are playing high-stakes poker against the most powerful, deep-pocketed financial interests in the country – with billions of dollars at stake – you don’t show the cards in your hand. Any strategic information we share would give our opponents a competitive advantage at the negotiating table,” said NCUA General Counsel Mike McKenna.
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The CFPB is ordering Navy Federal to refund more than $80 million to consumers, stop charging illegal overdraft fees, and pay a $15 million civil penalty.
NCUA and Fed data also show credit unions’ share of auto loans in September has fallen from a year earlier.
The list includes six credit unions merging due to poor financial condition and two for poor management.
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