Don’t Mess With the Little Guys!
$2 million SMHA Federal Credit Union is suing its sponsor, the Stark Metropolitan Housing Authority, for breach of contract, claiming that the agency failed to pay annual subsidies, wrongfully attempted to recover a $2 million grant the agency previously provided to the credit union, and interfered with a merger between the credit union and another credit union; the sponsor has recently come under fire for allegedly misusing public housing operating and capital funds. [9/4]
