Suit claims defendants failed to perform duties related to residential mortgage-backed securities.
NCUA says onsite WesCorp and other corporate examiners were limited by regs, not influenced by executives.
NCUA official says a lack of regulatory authority is to blame. Material loss reviews concur.
Former WesCorp CFO Todd Lane will replace the retiring Marla Shepard in early 2015.
The Texas corporate has experience as an NCUA derivative pilot provider.
Order bans Siravo from involvement with any federally insured credit union and calls for him to pay $600,000.
Suits against Wachovia Capital Markets for U.S. Central, WesCorp losses combined into one.
Still suffering from the bite of losing all their Western Corporate FCU capital in 2009, credit unions report they are still capital shy when it comes to replacing corporate services.
WesCorp members seek new home for services, shy from staking new capital. Get the story in next week's print edition today in this print preview.
Most credit union leaders decline comment on order against failed corporate leaders but some criticism emerges.