NCUA Report: Fewer Outstanding CU Enforcement Actions at the End of 2018

The National Credit Union Administration (NCUA) recently issued its 2018 Annual Report, including outstanding enforcement actions, highlighting the agency’s activities, policy initiatives, and accomplishments for 2018.

“The annual report highlights a very productive year for the NCUA,” NCUA Board Chairman J. Mark McWatters said. “Along with the largest Share Insurance Fund dividend ever paid, we took significant steps to streamline our regulatory structure, make the agency’s operations more efficient, and expand access to affordable financial services. By working together, the NCUA Board created sound public policy that will allow the agency and the credit union system to meet future challenges and opportunities.”

According to the report, the number of outstanding enforcement actions for federally insured credit unions decreased from 296 at the end of 2017 to 278 at the end of 2018. Enforcement actions reported included Preliminary Warning Letters (PWLs), Letters of Understanding and Agreement (LUAs), Cease-and-Desist Orders (CDOs), and Conservatorships.The following table shows the number of outstanding enforcement actions the agency took, by type, for both state chartered and federal credit unions between 2014 and 2018.