Todd Lane, former Western Corporate Federal Credit Unionexecutive vice president/chief financial officer filed a set ofdocuments in U.S. District Court June 20, requesting documentationfrom plaintiff NCUA that proves Lane “dictated revenue targets tobe achieved by the investment department.”
The request is a legal response to the NCUA's claims that thefailed WesCorp's budget mandated particular levels on investmentand net interest income, and as a result, dictated the level ofrisk in its investment portfolio. Lane had previously filed a motion todismiss that complaint.
Documents requested by Lane include all evidence the former CFOhad a role in WesCorp's budget process, evidence of his allegedbreach of fiduciary duty, and a list of individuals who support theclaim that Lane dictated revenue targets to be achieved byWesCorp's Investment Department.
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