2025 Supervisory Priorities for Federally Insured Credit Unions

NCUA issued Letter 25-CU-01 outlining its 2025 supervisory priorities for federally insured credit unions. Key focus areas include credit risk management, particularly deteriorating credit card and used vehicle loan portfolios where delinquency and charge-off rates exceed levels seen during the global financial crisis. The agency will also examine loan modification and workout strategies for borrowers facing financial difficulty.

NCUA Encourages Credit Union IRS VITA Partnerships

The NCUA issued Letter 21-CU-12 in November 2021 encouraging federally insured credit unions to partner with the IRS Volunteer Income Tax Assistance (VITA) program. VITA offers free income tax preparation and education on refundable credits like the EITC and Child Tax Credit for low-to-moderate income individuals. Credit unions were encouraged to email the IRS by November 15, 2021 to express interest.

Technetium Tc 99m Albumin Aggregated Injection Revision

USP's Small Molecules 4 Expert Committee has issued a Notice of Intent to Revise the Technetium Tc 99m Albumin Aggregated Injection monograph due to a compliance concern with the Appearance acceptance criterion. Comments with supporting data prompted this action. The proposed revision is targeted for an August 1, 2026 official date and is expected to be published as a Revision Bulletin on July 31, 2026.

Montes v. SPARC Group LLC

The Washington Supreme Court issued a decision in Montes v. SPARC Group LLC, a consumer protection case. The court ruled on issues involving defendant SPARC Group LLC with amicus participation from the National Association of Consumer Advocates, Washington Attorney General, and National Retail Federation. The decision features a divided court with multiple justices authoring dissents and concurrences.

SEC v. Camarda, McArthur, A.G. Morgan Financial - $138M Investment Adviser Fraud

The SEC charged registered investment adviser A.G. Morgan Financial Advisors LLC and its principals Vincent J. Camarda and James E. McArthur with an alleged $138 million offering fraud affecting at least 431 investors. The defendants allegedly recommended high-risk private equity funds while misrepresenting them as conservative investments, misappropriated approximately $1 million for personal use, and failed to disclose conflicts of interest. Criminal charges were also filed by the U.S. Attorney's Office for the Eastern District of New York.

UK and US deepen regulatory cooperation on medical devices

MHRA and FDA announced strengthened cooperation on medical device regulation to support faster access to safe, innovative technologies for patients in both countries. The regulators will explore mutual recognition mechanisms, reduce duplication for manufacturers, and streamline approval processes while maintaining independent safety standards. The UK MedTech sector employs over 195,000 people.

Dobinson v. Commissioner of Social Security - SSID Appeal

The U.S. District Court for the Northern District of California docketed a new Social Security disability appeal, Dobinson v. Commissioner of Social Security (Case No. 5:26-cv-02891-VKD). Plaintiff Michael Dudley Dobinson filed a complaint challenging the Social Security Administration's denial of benefits and a motion to proceed in forma pauperis. The case has been assigned to Judge Virginia K. DeMarchi in San Jose.

Castillo v. Equity Residential Management - Notice of Removal

The U.S. District Court for the Northern District of California docketed Case No. 3:26-cv-02904, Castillo v. Equity Residential Management, L.L.C. et al, filed on April 3, 2026. Defendant Equity Residential Management, L.L.C. filed a Notice of Removal from San Francisco County Superior Court (Case No. CGC-26-633690), with a filing fee of $405. The case is classified under Federal Question jurisdiction with Nature of Suit as Other Statutory Actions.

TY.C. v. Uber Technologies, Inc. - Personal Injury Product Liability

United States District Court for the Northern District of California filed a civil complaint by plaintiff TY.C. against Uber Technologies, Inc., Rasier, LLC, and Rasier CA, LLC alleging personal injury product liability. The complaint was filed on April 3, 2026, with a filing fee of $405 paid. Defendants must respond to the complaint per federal civil procedure rules.

Roman Catholic Archbishop SF v. Summerhays - Bankruptcy Appeal

The Roman Catholic Archbishop of San Francisco et al filed a bankruptcy appeal (Case No. 3:26-cv-02863-AMO) in the Northern District of California on April 3, 2026. The case, assigned to Judge Araceli Martínez-Olguín, arises under federal question jurisdiction with a Nature of Suit designation of Bankruptcy Appeal (801). Limited public information is currently available as this appears to be an early-stage filing.