NCUA activates disaster relief policy
NCUA Board Chairman Debbie Matz activated the agency’s disaster relief policy to help credit unions and their members rebuild and recover from last week’s storms, which killed at least 350 people and caused $2 billion to $5 billion in insured losses.
Under the agency’s disaster assistance policy, NCUA will, where necessary:
During disaster conditions, according to the agency, NCUA personnel operate under three priorities: Ensure the safety of credit union staff, keep facilities and operations available to members, and provide material and technical assistance, as needed, to affected credit unions.
Federal credit unions may also provide assistance to other credit unions and nonmembers in the affected areas, under certain conditions:
Credit unions and credit union members needing help because of last week’s storms may contact NCUA’s Region III office in Atlanta at 678-443-3000 during normal business hours.
A U.S. District judge Monday dismissed three lawsuits--including one by the National Credit Union Administration--brought against U.S. Bank National Association and Bank of America, National Association regarding their duties as trustees of residential mortgage-backed securities.