WASHINGTON, DC (September 23, 2013) -- National Association of Federal Credit Unions (NAFCU) President and CEO Dan Berger today praised the National Credit Union Administration's (NCUA)’s suit against 13 banks for alleged manipulation of rates through the London Interbank Offered Rate system.
“NAFCU applauds NCUA’s action today seeking recoveries on losses from the failure of the corporate credit unions — which credit unions are paying through assessments for the Temporary Corporate Credit Union Stabilization Fund (TCCUSF). NAFCU has steadfastly pressed the NCUA to leave no stone unturned to find ways to minimize assessments on credit unions.”
“This is a positive step for NCUA. Credit unions welcome the potential relief the recovery of these funds could bring from the burden of assessments that could last until 2021.”
The National Association of Federal Credit Unions is the only national organization that focuses exclusively on federal issues affecting credit unions, representing its members before the federal government and the public.
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The National Association of Federal Credit Unions is the only national organization that focuses exclusively on federal issues affecting credit unions, representing its members before the federal government and the public.