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NCUA and Kappa Alpha Psi FCU in Dispute Over Liquidation

The NCUA is urging a federal court to uphold its liquation of Kappa Alpha Psi FCU while the credit union claims it had taken steps to improve its financial condition.

By Claude R. Marx | Updated on August 09, 2010

The NCUA is urging a federal court to uphold its liquation of Kappa Alpha Psi FCU while the credit union claims it had taken steps to improve its financial condition.

The credit union alleged in its court filing, in which it requested a temporary restraining order, that the credit union was irreparably damaged by the NCUA’s refusal to give the credit union a grant from the Community Development Credit Union Fund and by not backing its application for a grant from the Troubled Asset Relief Program.

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