Items Tagged with 'corporates'

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NCUA Charters Final Two Bridge Corporates

New corporates will assume existing business of Members United and Southwest Corporate.
The newly created institutions will be known as Members United Bridge Corporate FCU and Southwest Bridge Corporate FCU . The first two bridge corporates created by NCUA were U.S. Central Bridge Corporate FCU and Western Bridge Corporate FCU.
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Cheney Defends CUs on 'Squawk Box'

He emphasizes that NCUA's action 'won't cost taxpayers a dime.'
CUNA President/CEO Bill Cheney appeared live this morning on CNBC's Squawk Box to talk about credit unions and whether NCUA's plan for dealing with the corporates constitutes a credit union bailout.
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'It's Not a Bailout'

Key points for board members about the NCUA corporate actions.
It's important to correct any misperceptions about the corporate credit union and legacy asset plans.
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More Details Emerge on Corporate CU Plan

The focus of the plan will be the securitization and sale of legacy assets.
NCUA will establish 'bridge corporates' to ensure the important services by the five conserved corporates to natural person credit unions regarding payments and settlement aren't disrupted.
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NCUA Adopts Corporate CU Reforms

Regulator announces plan to address impaired assets, preserve stability.
The agency assumes control of three more corporates, announces a plan to isolate impaired assets, and finalizes stronger regulations.
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