Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
U.S. Central auditors records subpoenaed
BIRMINGHAM, Ala. (10/20/10)--Corporate America CU has subpoenaed all the records of BDO Seidman, the auditor of U.S. Central FCU, in its suit against the officers and directors of U.S. Central. According to court documents, the subpoena on behalf of the Birmingham, Ala.-based Corporate America asks for all work papers, correspondence, research, spreadsheets, drafts and investment valuations provided by the Las Vegas-based auditing firm for the Lenexa, Kan.-based U.S. Central in 2008. Other organizations receiving subpoenas in the case are Riskspan, Vienna, Va.; Callahan & Associates, Washington, D.C.; Clayton Financial Services, Topeka, Kan.; and Pacific Investment Management Co. (PIMCO), Newport Beach, Calif.; and Andrew Davidson and Co., New York. The suit claims that Corporate America CU and 26 other corporate credit unions that were members of U.S. Central were misled when U.S. Central converted $450 million of temporary capital to permanent capital just before the nation’s financial crisis erased all of the capital during the fall of 2008.


RSS





print
News Now LiveWire
Sony hack linked to N. Korea, says U.S.intelligence via @nytimes http://t.co/fE3PtMgEFz
11 hours ago
.@CUNAMutualGroup Klewin shares final thoughts, forecast on lending regulations with @cumagazine before retiring http://t.co/v78QY3QwqB
14 hours ago
Current @CUNA COO @JillTomalin promoted to deputy chief of staff
15 hours ago
#CU Effect:@ChartwayFCU 'branch of the future' 2 benefit members, staff. 2nd installment of new News Now series here:http://t.co/ImBY4nupEj
16 hours ago
U.K. regulators have given formal authorization for the @c_of_e to form a #creditunion.
16 hours ago