NCUA Outlines Process for Assessing Late Filer Fees
July’s issue of The NCUA Report describes the process that NCUA is using to determine when a credit union will be assessed a civil money penalty for filing a late 5300 Call Report and includes measures the agency will take to consider extenuating circumstances before penalties are imposed. The names of the credit unions that are assessed penalties will be made public and all penalties collected will go to the U.S. Treasury and not to NCUA. [7/23/14]
