The Alabama Credit Union Administration said Monday that documents from Alabama One Credit Union can overwhelmingly demonstrate why the Tuscaloosa, Ala. cooperative was conserved.
The court papers filed last week in Circuit Court of Tuscaloosa County responded to a formal appeal in a civil lawsuit brought by John Dee Carruth, the former president/CEO of Alabama One, against the Alabama regulator and its administrator, Sarah Moore, earlier this month.
Carruth's appeal demanded that the Alabama regulator show cause as to why the ACUA should not relinquish control of the credit union and its assets.
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