Thursday, December 20, 2012

NCUA Sues Former Texans CU CEO Addison

The National Credit Union Administration (NCUA) today filed suit in Federal District Court in Dallas against David Addison, former CEO of Texans Credit Union (TCU), alleging Addison breached his fiduciary duty to members and was “grossly negligent” in his management of the credit union, which is now in conservatorship.

Read the press release.

Read the complaint.
Posted by at
Labels:

3 comments:

  1. Taylor CU Lobby ManagementDecember 21, 2012 at 11:11 PM

    Really that’s great article, these points are very helpful, thanks for sharing with us.

    ReplyDelete
  2. AnonymousDecember 23, 2012 at 5:05 PM

    Keith -
    What makes Texans CU CEO Addison any different from Telesis FCU (Chatsworth,CA) CEO Grace Mayo. Both CEO's proceeded to rape, pillage and plunder their respective credit unions into a hole in the ground. Both placed into conservatorship. Both sustained millions in losses. Where is the NCUA lawsuit against CEO Grace Mayo?

    ReplyDelete
  3. Keith LeggettDecember 26, 2012 at 7:02 PM

    It takes time to put together a case. I suspect they are looking at Grace Mayo.

    ReplyDelete

Subscribe to: Post Comments (Atom)
 

The content is provided for educational purposes only, with the understanding that neither the authors, contributors, nor the publishers of this site are engaged in rendering legal, accounting or other expert or professional services. If legal or other expert assistance is required, the services of a competent professional should be sought.

Comments appearing in response to articles appearing on this site do not necessarily reflect the views of the ABA. ABA makes no representations regarding the truth or accuracy of commentary or opinions that may be posted in response to the articles that appear on this website.

The inclusion herein of any link to a website, either in the text of an article or in a comment, does not denote any approval, sponsorship, or endorsement by the ABA, and ABA is not responsible for the content or opinions expressed on those linked websites or related commentary. This content is not licensed to third parties sites and is not affiliated with any third party site. Any reference to the author or this content on any third party site on the Internet is not authorized by the ABA.

It is the policy of the American Bankers Association to comply fully with all antitrust laws. Certain discussions should be considered off-limits, including those that contain competitively sensitive data such as price and cost information, or statements that could be construed as reflecting an attempt or desire to control or influence a particular market or markets. Future pricing or other prospective competitive information should never be shared.