Search
 
News

Former Credit Union CEO Sues NCUA Over Administrative Law Charges

Jeffrey Moats claims he is being deprived of his Constitutional right to have NCUA’s allegations heard before a jury.

judges gavel and statue of lady justice Source: Shutterstock.

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.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?

NOT FOR REPRINT

© 2023 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.

Peter Strozniak

Dig Deeper

 

Recommended Stories

Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2023 ALM Global, LLC. All Rights Reserved.