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NAFCU Statement On Dismissal Of U.S. Central Suit

Posted: 2011-07-26 00:00:00
CONTACT:   Patty Briotta
703-842-2820
pbriotta@nafcu.org

WASHINGTON – NAFCU issued the following statement in response to the dismissal today of the lawsuit against U.S. Central FCU.

“NAFCU has long stressed the need for transparency and accountability in stabilizing and reforming the corporate credit union system. That includes both strengthening the NCUA’s oversight of corporates and determining any culpability on the part of the management and boards of these failed institutions. As these cases move through the judicial system, our goal is to move forward with the least cost to our members and prevent any reoccurrences of past failings,” said NAFCU General Counsel/Vice President of Regulatory Affairs Carrie Hunt.

The National Association of Federal Credit Unions is the only national organization that focuses exclusively on federal issues affecting credit unions, representing its members before the federal government and the public.
 
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