From the Credit Union National Association
A hearing today in a U.S. District Court for the District of Columbia will determine whether a Texas-based virtual credit union that was placed into liquidation last week will get an injunction to prevent the National Credit Union Administration (NCUA) from carrying out the liquidation.
I mentioned the closure of this credit union (Kappa Alpha Psi Federal Credit Union) in last Friday's bank failure summary
. It's the first time I have seen a credit union based on a fraternity.