More than five years after New London Security Federal Credit Union was liquidated, yet another delay could stall payments that some members claim are still due to them.
Mark Fetcher doesn’t care why New London Security Federal Credit Union failed back in 2008.
The accounting firm that reviewed the financials and performed audits of the defunct New London Security Federal Credit Union's records has denied claims that it failed to detect fraudulent activity, an allegation made by NCUA in a March 19 complaint.
In response to an NCUA complaint, the auditors for New London Security Federal Credit Union have denied claims of professional malpractice for the cooperative that was liquidated in 2008.
Nearly two months after the NCUA filed a suit against Wells Fargo for negligence in the case of a deceased financial adviser, the agency has filed a complaint against the CU's accounting firm to recover losses.