Kappa Alpha Psi Federal Credit Union, a predominantly African-American community development credit union headquartered in Addison, Texas, is fighting an NCUA liquidation order in court.
The agency issued its order liquidating the credit union on Aug. 3, claiming the CU is "minimally capitalized" and adding "there are no reasonable prospects for the credit union to achieve adequate capitalization."
The credit union responded by bringing a suit against the agency in the U.S. District Court for the District of Columbia.
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