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News Now

Washington
NCUA considers new allegations in WesCorp case
WASHINGTON (1/13/11)--The National Credit Union Administration (NCUA) has asked the U.S. District Court for the Central District of California for permission to modify its complaint against directors and officers of the conserved Western Corporate FCU (WesCorp). The court had previously stated that it planned to dismiss the complaint against the directors, but gave NCUA one final opportunity to state its case. The NCUA request for permission to amend its allegations follows a recent tentative ruling by the court that the agency could not do so. The former directors named in the agency’s suit will file a rebuttal to the NCUA’s request on Jan. 24. There is a hearing set for Jan. 31.


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