TALLADEGA, Ala. - Read CU Times' exclusive prison interview with former Alabama One member Danny Ray Butler.
The next showdown between the credit union and its regulator will begin on June 9 in Montgomery, Ala.
The state regulator tells the $613 CU its cease and desist order is a last chance to avoid conservatorship.
Sarah Moore tried to strengthen the regulator's authority last year.
Assets go up, but income shows a loss and equity keeps sliding.
The $613 million credit union argues the ACUA's cease and desist order should be voided.
According to a Birmingham lawyer, executives' goals were to make Butler loans acceptable to regulators.
Sarah Moore was CFO leading up to one of the largest bank failures in U.S. history.
Law allows board reimbursement, limits board liability and lowers some operating fees.
John Dee Carruth, CEO of Alabama One, speaks out about his temporary suspension, lawsuits against the credit union and a short annual meeting.