Wednesday April 1, 2020

Central Bank publishes reports on Rush CU issues

Concerns about car draw, expenses and money laundering detailed as liquidators appointed

21st November, 2016
Central Bank's warning to banks on trackers. Pic:

The High Court today appointed liquidators to Rush Credit Union Limited after an application by the Central Bank. Provisional liquidators had previously been appointed on November 2.

The regulator said its move came after the credit union’s board and management failed to address significant governance, financial and internal control failures identified in a number of reports, reviews and inspections.

“This led to a severely compromised financial position, and ultimately the failure of the credit...

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