Vensure Federal Credit Union v. National Credit Union Administration

MEMORANDUM OPINION

ROSEMARY M. COLLYER, District Judge.

On April 15, 2011, National Credit Union Administration (“NCUA”) placed Vensure Federal Credit Union (“Vensure”) into conservatorship, pursuant to the Federal Credit Union Act, 12 U.S.C. §§ 1751 et seq. Vensure filed a petition to show cause challenging the conservatorship under 12 U.S.C. § 1751(h)(3), which requires “the Board to show cause why it should not be enjoined from continuing such possession and control.” 12 U.S.C. § 1751(h)(3). Because a statutory ground existed for NCUA to impose a conservatorship, and because NCUA has…