Suits against Wachovia Capital Markets for U.S. Central, WesCorp losses combined into one.
Most credit union leaders decline comment on order against failed corporate leaders but some criticism emerges.
When one of Thomas Bonds’ staffers recently pulled him aside with a grim expression on her face and said that he was needed in another part of the building, the mind of the president/CEO of Corporate America Credit Union started to race.
They are feeling good up in Muskego, Wis.--so good that Corporate Central Credit Union just put out a financials-laden press release trumpeting that it is in "great shape."
Credit unions may soon have another alternative for their payment system processing through a new CUSO scheduled for launch by the corporate credit union network.
The Association of Corporate Credit Unions today announced that a CUSO will be formed for credit unions payment systems.
Records from BDO Seidman, the auditor of U.S. Central Federal Credit Union, have been subpoenaed by Corporate America Credit Union in its suit against the directors and officers of the corporate.
The failure of U.S. Central Federal Credit Union was caused by the risky investment practices of its management and by insufficient examinations by the NCUA and weak regulation.
NCUA Chairman Debbie Matz announced today that the board will hold a special meeting on Friday, Sept. 24 at which it will unveil the final rule on corporate credit unions and announce its plans for dealing with the corporates' legacy assets.
Reaching inside the credit union movement following the tenure of a prominent outsider, CUNA last week named California-Nevada Credit Union League President Bill Cheney as its new leader.