Legal Opinion
Katharina Wagner Gully, A/K/A Karin Gully v. National Credit Union Administration Board, Waterside Federal Credit Union, Intervenor
Court of Appeals for the Second Circuit
Decided August 21, 2003No. Docket 02-4413PublishedCited by 38 opinions
1Opinion of the Court
MCLAUGHLIN, Circuit Judge.
Petitioner Karin Gully appeals from the determination of the National Credit Union Administration Board (the “Board”) that she engaged in unsafe and unsound practices and that she breached her fiduciary duty as the manager of the Waterside Federal Credit Union (‘WFCU”), and is therefore unfit to be involved in the affairs of a federally-insured credit union. See 12 U.S.C. § 1786(g)(l)(A)-(C). The Board based this finding on Gully’s failure to prevent the misuse of a WFCU corporate credit card by a WFCU board member and consultant — to wit, her father. The Board found…
2Cases cited18 opinions
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- Connecticut National Bank v. GermainSupreme Court of the United States · 1992
- Joint Anti-Fascist Refugee Committee v. McGrathSupreme Court of the United States · 1951
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3Cited by38 opinions
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