Nine credit unions agree to pay penalties for late call reports from Q3 ‘18

Penalties for filing late call reports for the third quarter of 2018 will be assessed to nine credit unions, the federal regulator of credit unions said Monday. The credit unions agreed to pay the civil money penalties (CMPs), totaling $4,069, the National Credit Union Administration (NCUA) said.

In a release, the agency said assessing the CMPs rests on three factors: the credit union’s asset size, its history of filing call reports on time, and the length of the filing delay.

The largest penalty for filing late (for a report of a period ending Sept. 30, 2018), NCUA said, was assessed to Lancaster Red Rose Credit Union in Lancaster, Pa. – for $1,368.

Eight of the nine credit unions were only fined by the federal regulator; one – Martin Luther King Credit Union of Houston, Texas – was fined by its state regulator for a late report.

Q3 2018 Late Call Report Filers List