Several of the members of the Board of Directors of the Municipal Credit Union who were ousted for allegedly failing in their oversight duties are suing Maria Vullo, the Superintendent of the state Department of Financial Services who removed them, this newspaper has learned.
The Article 78 lawsuit, filed in State Supreme Court, alleges that the state regulator failed to follow its own regulations and made an arbitrary and capricious decision without providing board members a hearing before their dismissal.
This item is available in full to subscribers.
We have recently launched a new and improved website. To continue reading, you will need to either log into your subscriber account, or purchase a new subscription.
If you have an active digital subscription, then you already have an account here. Just reset your password, if you've not yet logged in to your account on this new site.
If you are a current print-only subscriber, and want access to our website,click here to view your options for changing you subscription level.
Otherwise, click here to view your options for subscribing.
Please log in to continue |
