NCUA Seeks Millions from Melrose CU CEO for Breach of Duties
Alexandria, VA – 7 August 2018 – The National Credit Union Administration Board, under an infrequently used authority, has filed administrative charges against Alan S. Kaufman, former chief executive officer, treasurer, and board member of Melrose Credit Union. The NCUA is seeking a prohibition order against Kaufman and is requesting he be ordered to pay restitution of at least $3.5 million. In addition, the NCUA Board assessed Kaufman with a civil money penalty of $1 million.
Read More!
More Stories
Happy Birthday CUCollector! Seventeen Years… Where Did the Time Go?
One Face. Sixteen Identities. $476,000 in Fraudulent Auto Loans
Did the CFPB Accidentally Create the Credit Washing Industry?
Q1 2026 Credit Union Auto Loan Delinquency – Déjà Vu All Over Again
$95 Million Missing: Rolexes, Teslas, a Honduras Home, and a Credit Union CEO’s Fall From Grace
Identity Theft, Fake Pay Stubs, and Nearly $69,000 in Fraudulent Loans