X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

In a consent order, the NCUA last week barred Richard Koenig, the former chairman of Central States Mortgage Corp., a bankrupt Milwaukee CUSO and ex-CEO of the $144 million Prime Financial CU of Cudahy, Wis., from further industry activities.

Terms of the directive were not disclosed, but the disbarment stems from the March 2009 state conservatorship of Prime Financial, which numbered among nearly two dozen small Wisconsin and Illinois CUs that suffered mortgage loan losses in the 2009 collapse of CSMC, one of the early CU victims of the economic recession.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?

Peter Westerman

 

Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times
Live Chat

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.