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Alabama One Blistered by ACUA in Court

The state regulator tells the $613 CU its cease and desist order is a last chance to avoid conservatorship.

By David Morrison | Updated on April 30, 2015

The Alabama Credit Union Administration told an Alabama court that a recent cease and desist order to the $613 million Alabama One Credit Union in Tuscaloosa represents the credit union’s last chance to avoid conservatorship.

In a brief that alternated between blistering and incredulous, the ACUA’s lawyers tore into Alabama One’s arguments and presented evidence that the cease and desist order resulted from the credit union’s repeated failure to comply with previous administrative remedies.

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