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Former Texas credit union CEO Jeffrey Moats is asking a federal judge to stop the NCUA’s administrative action against him because it is his Constitutional right to have the federal agency’s allegations heard before a jury of his peers.

The NCUA claims in its April 24 administrative filing with the United States Office of Financial Institution Adjudication (OFIA) in Arlington, Va., that Moats allegedly committed bank fraud, embezzlement, obstructed an examination, and made false entries on credit union documents, which led to substantial financial losses while he was president/CEO of the $94.2 million Edinburg Teachers Credit Union. He was fired when the credit union was conserved in March 2021. By the end of that year, ETCU posted a net income loss of $2.5 million, according to NCUA financial performance reports.

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