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CU System
NCUA files sealed response in Vensure case
WASHINGTON (5/31/11)--The National Credit Union Administration (NCUA) filed a sealed response last week to Vensure FCU's arguments in the credit union's lawsuit seeking to delay NCUA's placing the credit union into conservatorship. Mesa, Ariz.-based Vensure had filed a sealed document on May 19, and NCUA had until Thursday to respond. The credit union had sought a temporary restraining order to halt the conservatorship. The case was heard May 11 in the U.S. District Court for the District of Columbia, and U.S. District Judge Rosemary Collyer had indicated she was inclined to rule in favor of NCUA and let the conservatorship stand. However, she gave the option for an additional written filing from the credit union before ruling. Vensure FCU was taken into conservatorship on April 15. It is one of 16 financial institutions that allegedly held funds tied to online gambling sites under investigation by the Federal Bureau of Investigation.


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