NCUA Plan to Levy Fines for Late Call Reports ‘Excessive,’ NWCUA’s Stang Says

Plans by the National Credit Union Administration to levy fines against credit unions that miss quarterly filing deadlines for their 5300 Call Reports drew immediate reactions from national and regional executives Thursday, with NWCUA President/CEO Troy Stang calling the move “excessive.”

FinCEN E-Filing Transition Period: July 1-8, 2012

After a host of difficulties, the BSA E-Filing System is now functioning properly and has finished processing backlog data. Institutions with rejected filings should have received electronic notification and should re-file reports accordingly.