A retail group which was not a party to the original anti-trust fight between retailers and major card brands and card issuers over credit card interchange said it is moving closer to taking legal action to try and block a settlement in that case.
National Retail Federation exploring intervention, not a party to the original legal fight.
Ignacio Morales, former CEO of the $7 million Borinquen Federal Credit Union, pleaded guilty Sept. 4 to embezzling $2.3 million and causing the institution’s 2011 collapse. And, according to court documents, a former board member may also be guilty of defrauding the community development credit union.
Lawsuits pile up against Wall Street banks in corporate collapses. Three settled so far.
Ignacio Morales, former manager of the failed $7 million Borinquen FCU in Philadelphia, had a good reason to not show up in court on embezzlement charges.
Credit union found not liable for continuing contract with JM Floyd after company says automatic renewal followed merger.
Terry Maloy says Community 1st CU in Ottumwa falsely accused him of sexual harassment and seeks $1.5 million retention benefit.
A bulletin released last week by the FBI revealed the reason the NCUA seized the $52 million Broome County Teachers FCU of Binghamton, N.Y., in June of 2011. Loan fraud.
Builder's website says he renovated now-failed BCT FCU's Montrose, Pa., branch. Faces sentencing in December along with his mother.
Mother, son plead guilty to stealing $14 million from now-defunct Broome County Teachers FCU in Binghamton.