ICBA, ABA letter restates opposition to S. 2231, says "silent majorit"' of credit unions oppose raising MBL cap and again calling it a "power grab."
Most credit union leaders decline comment on order against failed corporate leaders but some criticism emerges.
Call the NCUA suit against WesCorp’s outside directors the warning shot that, whether the NCUA wins or loses that case, makes clear one fact. Serving on a credit union board involves risks, responsibilities, accountability and losses when the job is not done well.
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.
Seven credit unions that filed a negligence suit last November against former and current directors and employees of Western Corporate Federal Credit Union have reached an agreement with the NCUA that will allow the regulator to intervene in the suit.
The NCUA filed suit in Los Angeles Superior Court Dec. 30 to replace seven natural person credit unions as plaintiffs in a negligence suit against current and former employees and volunteers of failed Western Corporate Federal Credit Union.