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Florida Regulator Requests Review of CU Business Capital Loan Workouts

In Eastern Financial Florida Credit Union's March 19 cease and desist order, the Florida Office of Financial Regulation has asked the board to submit a review of business loan workouts conducted by CU Business Capital LLC.

By Michelle A. Samaad | Updated on April 07, 2009

In Eastern Financial Florida Credit Union’s March 19 cease and desist order, the Florida Office of Financial Regulation has asked the board to submit a review of business loan workouts conducted by CU Business Capital LLC.

According to the order, the review should address “management depth and succession issues should CUBC staff no longer be able to support member business loan workout efforts or the review determines the CUBC workout efforts are insufficient to achieve the Board’s desired goals.” Eastern Financial has until May 3 to complete the review, the OFR said.

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