Peril is threat to tax exemption, CUNA CEO tells NJCUL luncheon, while opportunity is Washington's largely positive view of credit unions.
The NCUA has sued RBS Securities for $685 million, alleging that that firm misled Western Corporate FCU (WesCorp) when it sold it mortgage-backed securities.
Judge says he plans to dismiss NCUA complaints against former directors, continue them against execs of failed corporate.
In a complicated ruling last week, Judge George Wu opened a door that had seemed closed, by agreeing to allow cases against WesCorp's outside directors to proceed.
In a complicated ruling Monday, Judge George Wu opened a door that had seemed closed by agreeing to allow cases against WesCorp outside directors to proceed.
It's not over until it's over.
Not so fast when it comes to dismissing complaints against Western Corporate Federal Credit Union's outside directors--that is the gist of yesterday's filing by NCUA in the continuing case of NCUA v. Siravo, et. al.
The NCUA Board, serving as conservator plaintiffs in the Western Corporate FCU lawsuit, filed an amended complaint
Yesterday in U.S. District Court, the NCUA lost its motion to "substitute in as plaintiff" entirely for seven mid-sized credit unions that sued Western Corporate FCU directors and employees.