Embattled CU Sues To Stop Alabama Regulator’s Cease and Desist Order
The $613 million Alabama One Credit Union has found itself in the news a lot lately and the news is not getting better. The embattled credit union has now filed suit to dismiss on technical grounds a cease and desist order just issued by the Alabama Credit Union Administration and affirmed by NCUA. The order calls for the replacement of the credit union’s CEO, COO and chief lending officer among other actions. See also here. [4/27/15]