63 Iowa Credit Unions Sue NCUA for $4.2 Million in Corporates' Recovered Assets

The lawsuit alleges NCUA wrongfully denied payments because remaining assets of dissolved corporates belonged to CUs and other organizations.

By Peter Strozniak | June 07, 2023 at 04:00 PM

lawsuit filed and a statue of lady justice

Sixty-three of Iowa's 75 credit unions are suing the NCUA for $4.2 million in recovered assets following the liquidation of the nation's largest corporate credit union, U.S. Central FCU, in 2010.

Continue Reading for Free

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

Regulatory & Compliance

1 More Than a Million People Affected by Patelco Credit Union's Data Breach

2 The CFPB Has More Power Than You Think

3 7 CU Professionals Celebrate New Roles & Honors

4 Prosecutors Allege Former Montana Credit Union Employee Stole $340,000

Credit Union Times Luminaries Awards 2024
November 07, 2024 - Orlando

This event shines a spotlight on the individuals, teams, projects and organizations that are changing the financial industry.
More Information
GlobeSt. Multifamily Fall 2024
October 15, 2024 - Los Angeles

Join the industry's top owners, investors, developers, brokers & financiers at THE MULTIFAMILY EVENT OF THE YEAR!
More Information
Women Leaders in Consulting (WLC) 2024
November 14, 2024 - New York

Women Leaders in Consulting Awards honors the industry standouts and rising stars who are making a mark within the profession.
More Information

Credit Unions Plan New Branches in Texas & California

By Jim DuPlessis | October 04, 2024

Construction has begun on branches to open near Dallas and Santa Cruz in mid-2025.

Credit Unions Plan New Branches in Texas & California

OCC Backs Credit Unions, Banks Opposing Illinois Interchange Law

By Michael Ogden | October 04, 2024

The OCC files an amicus brief, joining financial groups, to put a stop to the state law.

CU Economist: Improving Jobs Makes Recession Unlikely

By Jim DuPlessis | October 04, 2024

Economist for Mortgage Bankers Association agrees that soft landing is more likely, but Fed might slow rate cuts.

CU Economist: Improving Jobs Makes Recession Unlikely

Case Study

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

Instant Insights /

63 Iowa Credit Unions Sue NCUA for $4.2 Million in Corporates' Recovered Assets

Continue Reading for Free

Dig Deeper

Trending Stories