Alabama One Credit Union, insurers settle lawsuit
CUMIS provided fidelity bond coverage to Alabama One, a form of insurance that offers employers protection against losses caused by fraudulent or dishonest employee actions.
Alabama One claimed its losses exceeded
"We believe that this is a fair settlement that took into account the wrongful acts of the officers involved in these loans," said
The credit union filed a lawsuit in
"This settlement represents Alabama One's commitment to our members to pursue all claims for losses resulting from the lending practices of prior management of Alabama One," Alabama One CEO
Butler borrowed more than
Butler pleaded guilty in
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