NCUA In New Clash With Former Polish & Slavic FCU<@SM>Figures

- BROOKLYN, N.Y. (12/18/00) - NCUA is locking hornsagain with former directors and officers of Polish & SlavicFCU, two years after the agency ousted the officers in a takeoverof the nation's largest ethnic-based credit union. At least oneformer officer, Marcin Sar is fighting an effort by NCUA to havehim answer questions aimed at determining whether the agency willbring civil administrative charges against the former credit unionpresident and others. Sar has filed papers with the federal courthere to block NCUA's efforts to depose him in the case. Sar headedthe $590 million credit union when it allowed a local currencytransfer firm to help credit union members repatriate millions ofdollars to Poland without proper documentation in violation of thecash transfer reporting requirements of the Bank Secrecy Act. Theviolations forced the credit union to pay a civil fine of $350,000to the U.S. Treasury earlier this year allowing NCUA to end ayear-long conservatorship.