In a courtroom in the U.S. District Court for the District of Columbia last week, the NCUA tried to convince a federal judge to let it continue conserving Vensure Federal Credit Union.
The agency argued in its briefs that U.S. District Court Judge Rosemary Collyer should finalize her initial finding, expressed during a hearing on May 11, that the NCUA had cause to conserve the credit union.
"It may be that had Vensure management been allowed to maintain the business through this perfect storm of events, they would have been able to hasten their attention to new lines of business," the agency quoted Collyer as saying during the hearing. "But they did not do so for months and months, and I don't think can now be heard to cry wolf that they haven't been given the opportunity once the perfect storm happened."
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