CU, Oil Drillers At Odds Over Land

Published October 29, 2007, 1:00 a.m. EDT

|

Updated August 27, 2020, 1:34 a.m. EDT

1 Min Read

OKLAHOMA CITY - The Oklahoma Independent Petroleum Association is crying foul over the winning bid by Oklahoma Employees CU to buy a parcel of land near the state capitol to build a new headquarters. The oil drillers say the CU's winning $860,000 bid-four times the next highest offer-should be thrown out because the credit union does not fit the requirements of the auction: to be a governmental or professional association. The oil drillers say they may sue the state over the auction process if the credit union's bid is accepted. The $220-million credit union serves anyone in state government and residents in seven surrounding counties. (c) 2007 The Credit Union Journal and SourceMedia, Inc. All Rights Reserved. http://www.cujournal.com http://www.sourcemedia.com

Processing Content

For reprint and licensing requests for this article, click here.

MORE FROM AMERICAN BANKER

Failures

Embattled California bank is latest to fail

The $736 million Orange County bank had faced a smattering of enforcement actions over the years, including for concentration risks, governance issues and questionable insider transactions.

By Ebrima Santos Sanneh
Reporter

1h ago
ESG

What climate finance means for portfolios

As the U.N. renews its call for $1.3 trillion a year in climate finance, four leaders in climate finance say the biggest question for advisors is where that money goes.

By Grace L. Williams
Reporter

4h ago
Insurance

State regulators push back on Sen. Warren's insurance probe

The National Association of Insurance Commissioners responded to a query from Sen. Elizabeth Warren about risks to policyholders stemming from private-equity ownership of life insurers.

By Kate Berry
Reporter

4h ago
Prediction Markets

New York sues Polymarket, alleging 'illegal gambling'

The platform had a lawsuit filed against it by New York officials this week as the latest in a series of cases against prediction markets on the state level.

By Melinda Lucy
Tech Reporter

5h ago
BMO Financial Group

Why BMO has regained confidence in its US strategy

The Canadian bank's U.S. operations experienced challenges following a large acquisition on the West Coast. But the bank is now making good progress, according to a top BMO executive.

By Allissa Kline
Reporter

6h ago
Wealth management

RIAs working with Schwab get higher-yielding option for clients' cash

As AI threatens firms' lucrative business managing uninvested cash, Schwab gives its RIA partners a new way to keep clients' cash holdings sticky.

By Dan Shaw
Reporter

6h ago

Load More