Lafayette Federal Credit Union v. National Credit Union Admin.

MEMORANDUM OPINION

CACHERIS, Chief Judge.

This matter comes before the Court on Defendants’ Motion to Dismiss. For the reasons set forth below, Defendants’ Motion is GRANTED.

Facts.

Plaintiffs are ninety-six credit unions and former holders of Preferred Capital Shares (“PCS”) in now-defunct Capital Corporate Credit Union (“CapCorp”).1 CapCorp was a credit union that provided financial services only to other credit unions; it held no deposits (or shares) of individuals. Defendants are the federal agency charged with regulating credit unions and the arm of that agency appointed as conservator and…