Allowing credit unions to raise supplemental capital that is counted toward net worth requirements is an "appropriate policy consideration,"
Corporate America Credit Union won the right to advance to the discovery phase of its case against U.S. Central Federal Credit Union's former directors and executives.
Corporate America Credit Union's case against U.S. Central Federal Credit Union's former directors and executives is going to court. U.S. District Court Judge Inge P. Johnson filed the order March 25, setting a Dec. 6 trial date in Birmingham, Ala.
NCUA officials have repeatedly said they want credit unions to determine the future structure of the corporate system.
Eastern Corporate Federal Credit Union President/CEO Jane Melchionda has accused U.S. Central Federal Credit Union of withholding crucial information from its members in her Part 704 comment letter.
U.S. District Judge Inge Johnson advanced U.S. Central Federal Credit Union's fraud securities suit into discovery phase on March 2 when she denied the so-called "director defendants" motion to dismiss.
A nearly $500 million fourth-quarter other-than-temporary impairment blew through what was left of the $35 billion U.S
U.S. District Judge Inge Johnson today denied U.S. Central Federal Credit Union director defendants their motion to dismiss the suit filed by Corporate America Credit Union.
U.S. Central Federal Credit Union, currently under NCUA management, reported a nearly half a billion other-than-temporary impairment loss for the fourth quarter, bringing charges for the year to $1.8 billion.
Sensitive and confidential information regarding fired U.S. Central Federal Credit Union Executive Vice President David Dickens was posted on the NCUA Web site, www.ncua.gov, today.