The $613 million credit union argues the ACUA's cease and desist order should be voided.
ACUA also orders Alabama One to discontinue business lending, fix SARs and remove conflicts of interest.
CEO says visit was routine. Member reports regulators refused to sign in at front desk.
Sammy Colburn says he was asked to drop off checks to certain executives, sometimes after hours.
The agency would be better off with an advisory group similar to the one at the CFPB.
According to a Birmingham lawyer, executives' goals were to make Butler loans acceptable to regulators.
Court records and sources familiar with an unfolding situation at Alabama One Credit Union said the NCUSIF and NCUA may soon face a regulatory failure.
There was no shortage of news in CU Times’ virtual newsroom this past week.
Maybe the NCUA needs to expand the share insurance fund because it can't effectively regulate its insured institutions.
Read all of CU Times' coverage of the $613M credit union's lawsuits and regulator woes.