Lawyers anticipate battles between insurers and policyholders over business interruptions.
The former CEO at the 77,000 member, $1.5 billion Polish & Slavic Federal Credit Union has sued the credit union’s board of directors, both as a group and individually, alleging he was fired in May for following state and federal laws on equal opportunity hiring.
Commodore Perry FCU President Thomas Renz said last week the reason the $32 million credit union filed an exam appeal–an accusation an NCUA examiner retaliated against the credit union in the form of a riskier CAMEL score–has been lost in the appeals process.
Credit union attorney agrees, says issue now is if regional director erred in nixing original appeal after NCUA backed examiner accused of sexual harrassment.
ATLANTIC CITY, NJ — The Consumer Financial Protection Bureau is churning out regulations. The question, according to Rob Rutkowski who’s a partner in the law firm of Weinberg & Reis Co. LPA, is whether credit unions are ready for compliance.
ATLANTIC CITY, N.J.—The Consumer Financial Protection Bureau is ready for action, attendees at the New Jersey Credit Union League meeting this week were told.
The email from a usually voluble credit union executive who had been asked to comment on the secrecy that surrounds compensation of top managers at federally chartered credit unions said, “Too touchy of a subject for me. Sorry.”
Governance questions may not get more visceral – who makes the biggest decisions at a credit union? The question is easy to ask, but for some, it can be bafflingly hard to answer.
FINRA suitability recommendations for brokerages are coming into effect July 9.
California Credit Union League President/CEO Diana Dykstra said she’s upset about a string of lawsuits in her state accusing credit unions of unfair and illegal overdraft practices. And she accused attorneys in the state of “fishing for members.”