Is the NCUA preparing to file suit against Grace Mayo, former CEO of the failed $300 million Telesis Community Credit Union?
When asked, the regulator's media contact didn't admit it, but didn't deny it, either.
John Fairbanks, Public Affairs Specialist for the NCUA, said, "Whenever a large credit union goes into conservatorship or liquidation, NCUA, as part of its normal due diligence, will examine the causes of the financial problems that gave rise to the action."
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