When the Alabama Credit Union Administration
served the $600 million credit union with a cease and desist order on April 2, nearly 9,000 credit union industry professionals and citizens of Alabama turned to CU Times for the details.
Alabama Credit Union Administration
Administrator Sarah Moore and former interim Alabama One president/CEO Doug Key also filed motions to dismiss.
"Alabama One Credit Union is a member-owned financial cooperative regulated by the Alabama Credit Union Administration
," he wrote.
Moreover, in April the Alabama Credit Union Administration
and the NCUA filed a cease and desist order to force the troubled credit union to replace its CEO, COO and chief lending officer.
The NCUA and Alabama Credit Union Administration
did not immediately respond to requests for comment regarding loan aggregation opinions varying between federal and state regulators.
While she had been with Arant Boult, the firm had done business with Alabama One, including a review of the performance of Alabama One CEO John Dee Carruth, that the credit union had later cited in an ongoing legal fight with the Alabama Credit Union Administration
An Alabama State court denied Alabama One's request to temporarily restrain the Alabama Credit Union Administration
from enforcing its April 2 cease and desist order, according to legal sources and Alabama One members in the Tuscaloosa, Ala., courtroom May 14.
has asked the Alabama Credit Union Administration
and the NCUA to approve another loan for Danny Butler, despite the fact he is serving a sentence for fraud and check kiting at the federal correctional facility in Talladega, Ala.
In the second quarter of 2014, while Henderson may have still been partner at the firm, Alabama One hired Bradley Arent to do an independent review of the performance of Alabama One CEO John Dee Carruth, and then cited that report in its public request for an appeal of the Alabama Credit Union Administration
's April 2 cease and desist order.