FBI Probes Failed CU in Minn.
The FBI in Minneapolis is investigating the $51 million St. Francis Campus Employees Credit Union in Little Falls, Minn., which state regulators on Feb. 14 closed and appointed the NCUA as receiver and liquidating agent.
“We received indication that there were some irregularities at the credit union,” said Kyle A. Loven, chief division counsel for the FBI office in Minneapolis. “The FBI along with the Little Falls Police Department looked into the matter and an investigation was opened thereafter. The NCUA is involved as well.”