Another Credit Union Closes After Claims of Fraud and Investigation by FBI. From the Courier Journal:
The Louisville Metro Police Officers Credit Union has closed amid an FBI investigation and months of federal control.
The credit union was placed in a conservatorship in December 2017 by the National Credit Union Administration, a federal agency that regulates, charters and supervises federal credit unions.
“The decision to liquidate Louisville Metro Police Officers Credit Union and discontinue its operations was made after determining the credit union was insolvent and had no prospect for restoring viable operations,” the NCUA said in a news release Friday.