Below is CU Times' coverage of fraud lawsuits and regulator action at the $613 million Alabama One Credit Union. This page will be updated as news develops, so bookmark it.
Alabama One Hires New Chief Lending Officer: The conserved credit union also hires a controller and posts a net worth of 9.25% for the end of 2015.
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Alabama Regulator Counters Carruth's Appeal: The ACUA fights the former Alabama One CEO's attempt to win back the conserved credit union.
Carruth Fights to Reclaim Alabama One: Appeal asks the ACUA to show cause for the decision to conserve the credit union within two weeks.
Carruth to Appeal Alabama One Termination: The ousted CEO recounts the day of the conservatorship and shares his plans for legal action.
Carruth Dismisses Moore From Suit: Former Alabama One CEO removes the ACUA Administrator as a defendant; lawyers ask to stop representing the CU.
Alabama One Order Cites $11 Million Loss: President/CEO John Dee Carruth says he plans to fight the ACUA's decision to conserve the credit union.
Alabama One Conserved by ACUA: ACUA accuses credit union executives and employees of taking gifts in exchange for making loans.
Alabama One Sues Governor: As the ACUA board prepares to meet tomorrow, the $600M credit union applies more legal pressure.
Alabama One Must Show Cause in Suit: The troubled credit union has until Aug. 27 to counter defendants' motions to dismiss its complaint.
Alabama One: Emails Imply Coercion of ACUA: Attorneys for the credit union say they have proof state officials pressured Sarah Moore to take action against it.
Morgan, Smyth Address Alabama One Suspensions: Former ACUA Administrator says he didn't pen the suspension letter; attorney Jay Smyth denies prior knowledge of the suspensions.
Alabama One Email Saga: New Details Surface: More conversations regarding the troubled cooperative come to light; plus, attorney Jay Smyth speaks out in his clients' defense.
Alabama One Emails Speak to Conspiracy: John Dee Carruth shares court-approved emails he says prove a conspiracy against his credit union.
Alabama One CEO: Emails Prove Innocence: John Dee Carruth shares court-approved emails he says prove a conspiracy against his credit union.
Alabama One Defends Business Practices: John Dee Carruth says the credit union's exceeding of the MBL cap is a result of varying opinions from regulators.
Alabama One CEO Discusses State Government Conspiracy: John Dee Carruth speaks candidly about the political forces he says are working against Alabama One.
Alabama One CEO Sues Member for Defamation: John Dee Carruth seeks $100,000 in damages from Kenneth Walters for allegedly slamming him on Facebook.
Alabama One Sues State Officials, Attorneys: The $602M credit union alleges a conspiracy with secret meetings involving the governor and ACUA.
Alabama One Reports YTD $2.7M Net Loss: Credit union reports $2.7 million loss as net worth slides below 10%.
Alabama One Member Threatened With Lawsuit: Lawyer for Alabama One CEO John Dee Carruth says Kenneth Walters defamed Carruth on Facebook.
Alabama One Hit With Class Action Lawsuit: Former board member Jerry Logan initiates the suit, which calls for removal of the credit union's current management.
Butler's Bankers Enjoyed Many Perks: Court docs reveal Danny Ray Butler showered his bank and credit union friends with lavish gifts.
Butler Reflects on Pre-Prison Events: Read CU Times' exclusive prison interview with former Alabama One member Danny Ray Butler.
Alabama One Board: An Inside Look at the Conflict: Former Alabama One board members recount a questionable extension of the CEO's contract.
Butler: My Defense Attorneys Failed to Investigate: Lawyers scared Danny Butler into pleading guilty in check kiting, fraud case, he says.
Cars, Condos and Skyboxes: The Perks of Being Butler's Banker : Court docs reveal Danny Ray Butler showered his bank and credit union friends with lavish gifts.
Alabama One Drops Cease and Desist Appeal : Court documents do not state why the credit union abandoned its appeal of an ACUA order.
Had I Known Then What I Know Now: Onsite Butler Prison Interview : Read CU Times' exclusive prison interview with former Alabama One member Danny Ray Butler.
Alabama One Hearing Reveals Butler Cover Up Claims : Danny Butler testifies the credit union knew about his check kiting and used him to block an ACUA investigation.
New Bankruptcy Judge Set in Alabama One Case : Clifton R. Jessup appointed following the recusal of previous judge, whose law firm did business with the CU.
Alabama One Bankruptcy Hearing Ignites Drama : Butler disavows more than 25 documents as those he had never signed or seen during emotional hearing.
Alabama One, ACUA Settle Injunction Battle : The next showdown between the credit union and its regulator will begin on June 9 in Montgomery, Ala.
Alabama One Must Comply With C&D: Court : Judge denies cooperative's attempt to reject the Alabama state credit union regulator's cease and desist order.
Alabama One's Sewage Plant Saga Stews : Legal wrangling continues over a water treatment facility that services three Alabama schools.
Alabama One Seeks Approval for New Butler Loan : Three county schools await the outcome of a loan request for a collateralized sewage treatment plant.
Alabama One Petitions for Prison Hearing : The credit union calls for a prison meeting with Butler; Alabama One execs must share the blame, Butler says.
Alabama One a Singular Event : Outside Alabama One, the state-chartered credit union system is fundamentally sound, regulators and executives say.
Alabama One Schedules Property Auction Despite Forgery Claims : Cooperative's biggest debtor claims signature on mortgage document was forged. Judge may recuse herself due to conflict of interest.
Alabama One Court Docs Authenticity Questioned : An original petition for discovery aimed at two ACUA examiners may be a forgery, Butler fiancée says.
Legal Sources: ACUA Reform Needed : Could the ACUA have stepped in to prevent some of the Alabama One damage?
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.
ACUA Administrator Proposed Legal Revisions : Sarah Moore tried to strengthen the regulator's authority last year.
Alabama One Improves Q1 Assets, Takes Income Hit : Assets go up, but income shows a loss and equity keeps sliding.
Alabama One Fights C&D in Court: Credit union argues because ACUA Administrator Sarah Moore didn't take proper oath of office, the order isn't legal.
Alabama One Cease & Desist: Replace Executives, Train Board: ACUA orders Alabama One to share order with members and fix member business lending, SARs and conflicts of interest.
NCUA and ACUA Pay Visit to Alabama One: CEO said visit of at least five regulators to the credit union board was routine.
Butler Employee Details Alabama One Check Deliveries: Sammy Colburn says he was asked to drop off checks to certain executives, sometimes after hours.
Alabama One Execs Backed Butler Loans: According to a Birmingham lawyer, executives' goals were to make Butler loans acceptable to regulators.
Alabama One Strife Suggests Regulatory Failure: Court records and sources familiar with an unfolding situation at Alabama One Credit Union said the NCUSIF and NCUA may soon face a regulatory failure.
Former Alabama One Compliance Officer Sues: Plaintiff claims widespread flouting of lending rules and regulations, also admits to unprofessional behavior.
Alabama One Board Members Retain Their Seats: Credit union has not yet revealed vote count, but challenger says he lost.
Alabama One Challenger drew nearly 3,000 Votes: While he failed to win in the troubled cooperative's board election, Jerry Logan got thousands of votes.
Alabama One Heloc Fraud Revealed in BK Case: Members discover $22,500 missing from HELOC when they attempt to pay son's college tuition.
Fraud Suits Multiply at Alabama One: More members file suit claiming the credit union committed loan fraud; appraisals are a new focus.
Alabama One CEO Takes the Stand: John Dee Carruth says Alabama One employees plead the fifth amendment when subpoenaed to testify.
Lawsuit Accuses Alabama One of Fraud Coercion: Credit union member alleges credit union pressured him to recant his complaint to authorities in straw loan scandal.
Butler Case a Quagmire for Alabama One: Will Jerry Logan retake a seat on the board of the $602 million Alabama One Credit Union?
Alabama One Board Election Heats Up: Candidate seeks answers after credit union posts millions of dollars in negative income.
Scandals Plague Alabama One: $603 million credit union left holding the bag for $11.5 million in loans to convicted fraudster.
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