Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

CU System
Suit alleges Chrysler deputy CEO owes CU 609286
MANHATTAN BEACH, Calif. (9/22/09)--Western FCU, in Manhattan Beach, Calif., is suing Chrysler Group LLC Deputy Chief Executive Officer James Press for $609,286. The $2 billion asset, Manhattan Beach, Calif.-based credit union is taking legal action against Press because he allegedly failed to make two payments last year on his Birmingham, Mich., home (Bloomberg.com Sept. 20). Press told the credit union he would be unable to make two pending loan payments of $203,000, according to the lawsuit. The credit union also is seeking attorney’s fees. The alleged debt occurred on an unsecured line of credit Press received while working for Toyota Motor Corp. in Torrence, Calif., said the Los Angles Times (Sept. 18). In a statement, Press said that troubles in the auto industry resulted in the denial of his request for a bonus payment. That led to his inability to make loan payments to the credit union. Press said he is trying to arrange for a loan against a future bonus with Chrysler so he can pay off his loan to Western FCU. Also, the Internal Revenue Service placed a $947,409 lien on his home because of unpaid federal taxes, according to documents from court and the Oakland County Register of Deeds, in Pontiac, Mich.


RSS





print
News Now LiveWire
20 breakout sessions available at @CUNA's April lending school #creditunions http://t.co/eTK0fVO0RK
5 hours ago
.@CoreLogicInc: Jan. home prices jump nearly 6% annually #Market #NewsNow http://t.co/DoDtHhjvaw
6 hours ago
CU Effect: @StLouisComm collaborates to save homes with FHLB grant #NewsNow http://t.co/fxX8EhouUj
11 hours ago
#NewsNow March 31 deadline for Biz Kid$ fin. ed grant application http://t.co/5AD5ZYPLEU
12 hours ago
.@CUNA sends letters on @RepAndyBarr QM bill, @RepMickMulvaney @NCUA budget transparency bill #NewsNow http://t.co/cRAk46ALeD
14 hours ago