The NCUA on Friday issued a prohibition order against formerWesCorp CEO Robert Siravo as part of an agreement between Siravoand the agency to settle the regulator's claims against him arisingfrom the failure of the corporate credit union.

Siravo in the deal also agreed to pay $600,000 to theliquidating agent of WesCorp.

Siravo did not admit liability or fault. However, in the pact,he consented to the prohibition order which bars him fromparticipating in the affairs of any federally insured creditunion.

Continue Reading for Free

Register and gain access to:

  • Breaking credit union news and analysis, on-site and via our newsletters and custom alerts.
  • Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders.
  • Educational webcasts, white papers, and ebooks from industry thought leaders.
  • Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com.
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.