MCU board members want their positions reinstated.

Former volunteers of the $2.9 billion Municipal Credit Union in New York are suing the state regulator to get their board seats back.

After former MCU President/CEO Kam Wong was accused of allegedly stealing millions and fired by the board in June, the New York State Department of Financial Services removed the entire board for failing to discharge their duties and for accepting compensation, which is prohibited in the Empire State.

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