NCUA issues cease and desist order

ALEXANDRIA, VA (August 22, 2014) — The National Credit Union Administration has issued a cease and desist order to David Addison, a former institution-affiliated party of Texans Credit Union of Richardson, Texas.

The order, to which Addison consented without admitting fault, requires that Addison not become an employee of, hold any office in or serve as a board member of any federally insured credit union or credit union service organization.

NCUA enforcement orders are available in a searchable database here. The public can inspect NCUA enforcement orders at the NCUA Office of General Counsel from 9 a.m. to 4 p.m., Eastern, Monday through Friday. Copies also may be ordered by mail from NCUA, 1775 Duke St., Alexandria, Virginia 22314-3428.

NCUA is the independent federal agency created by the U.S. Congress to regulate, charter and supervise federal credit unions. With the backing of the full faith and credit of the U.S. Government, NCUA operates and manages the National Credit Union Share Insurance Fund, insuring the deposits of more than 97 million account holders in all federal credit unions and the overwhelming majority of state-chartered credit unions. At and Pocket Cents, NCUA also educates the public on consumer protection and financial literacy issues..

More News