The NCUA on Friday issued a prohibition order against former WesCorp CEO Robert Siravo as part of an agreement between Siravo and the agency to settle the regulator's claims against him arising from the failure of the corporate credit union.
Siravo in the deal also agreed to pay $600,000 to the liquidating agent of WesCorp.
Siravo did not admit liability or fault. However, in the pact, he consented to the prohibition order which bars him from participating in the affairs of any federally insured credit union.
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
