Peter Strozniak (@CUTimesReporter) | teapawt

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Peter Strozniak@CUTimesReporterOct 14

A U.S. Supreme Court decision means the NCUA's administrative enforcement proceeding can move forward against a former Texas credit union CEO who allegedly violated federal law, breached his fiduciary duties and caused $4M in losses. cutimes.com/2026/10/13/supre…

Supreme Court Declines to Hear Case Challenging NCUA's Administrative Enforcement Process

High court's refusal to hear former credit union CEO Jeffrey Moats' appeal leaves intact a ruling limiting federal court intervention in NCUA enforcement proceedings.

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Peter Strozniak@CUTimesReporterOct 5

Federal prosecutor reveals former CEO Leigh Bridges made Jacksonville Area Federal Credit Union in Mississippi insolvent as early as 2023, and that she had been altering corporate statements to conceal million-dollar shortfalls since the late 1990s. cutimes.com/2026/10/02/jafcu…

JAFCU Was Effectively Insolvent Three Years Before Collapse

Federal prosecutor says the credit union obtained more than $41 million from outside sources as Leigh Bridges continued her embezzlement scheme.

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Peter Strozniak@CUTimesReporterSep 23

An appeals court will hear arguments in November over whether President Trump unlawfully fired National Credit Union Administration board members Todd Harper and Tanya Otsuka. cutimes.com/2026/09/22/appea… #creditunions #NCUA

Appeals Court to Decide Whether NCUA Board Members Have Removal Protections

According to an appellate brief, the Trump Administration is expected to argue the Federal Credit Union Act does not "expressly say" that NCUA Board members may be removed only for cause.

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Peter Strozniak@CUTimesReporterSep 16

So why would the former CEO of Jackson Area Federal Credit Union take a trip to a house in the Caribbean soon after acknowledging she misappropriated millions? It seems the NCUA suspects valuable items may be at that house that need to be retrieved. cutimes.com/2026/09/15/ncua-…

NCUA Targets Honduras Trip, $200K Gift-Card Attempt in Jackson Area Fraud Case

Leigh and Chad Bridges' alleged attempts to access funds come to light in a new NCUA memo, including using frozen funds, redeeming credit card points and cashing out accrued leave.

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Peter Strozniak@CUTimesReporterSep 11

The credit union industry's regulator bans one of its own, a former NCUA supervisory examiner for an alleged theft of moving and relocation expenses. He missed moving to Florida by 862 miles. cutimes.com/2026/09/09/forme… #creditunions #NCUA #banned

Former NCUA Supervisory Examiner Barred From Working at Insured FIs for Alleged $115,000 Theft

Federal prosecutors charged Donald E. Thomas in December 2025, alleging he improperly obtained more than $115,000 in agency relocation and travel funds.

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Peter Strozniak@CUTimesReporterSep 10

He says he did not know anything about this wife's alleged misappropriation of millions when she was CEO of a Mississippi credit union, but new court documents show he knew how to spend some of the stolen funds. cutimes.com/2026/09/08/ncua-…

NCUA Forensic Audit Ties $73.3M in Jackson Area FCU Losses to Alleged Misappropriation

New filing details luxury purchases and private jet travel as the NCUA argues Chad Bridges benefited from millions in allegedly misappropriated credit union funds.

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Peter Strozniak@CUTimesReporterSep 1

Congress created the NCUA's three-member board believing it would protect them from presidential removal without cause. 50 years later, former Board Members Todd Harper and Tanya Otsuka, fired without cause, argue their removal violated federal. cutimes.com/2026/08/31/ncuas…

NCUA's 1976 Leadership Crisis Resurfaces in Trump Removal Case of Harper & Otsuka

The former Board members point to Congress' response to a controversial 1976 firing as evidence that NCUA Board members were meant to be protected from presidential removal without cause.

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Peter Strozniak@CUTimesReporterAug 19

Former CEO of conserved Mississippi credit union pleads the 5th & denies allegations of any wrongdoing in an alleged $95 million scheme that financed her lavish lifestyle. cutimes.com/2026/08/18/forme… #creditunions #Mississippi #CEO

Former Jackson Area FCU CEO Invokes the Fifth, Denies Wrongdoing in $95 Million NCUA Case

As of Tuesday afternoon, federal prosecutors in Mississippi have still not filed charges against Leigh Bridges, her husband or their friend, all of whom are defendants in the NCUA's civil case.

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Peter Strozniak@CUTimesReporterAug 17

Regulator says an Ohio bank my sell its assets to an Indiana credit union, but it doesn't mean the proposed deal has been given the final OK as bankers plan to stop it. Interra CU's agreement to buy Hicksville Bank may be headed for a courtroom showdown. cutimes.com/2026/08/14/inter…

Interra CU's Proposed Hicksville Bank Acquisition Clears Major State-Law Test

Ohio's first whole-bank acquisition by a credit union remains subject to regulatory and shareholder approvals, and continues to face opposition from the Ohio Bankers League.

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Peter Strozniak@CUTimesReporterAug 14

The Trump Administration's latest effort to oust a Fed member involves allegations of fraud on two credit union mortgage applications. This case could affect the Harper-Otsuka appeals litigation in their effort for reinstatement as NCUA board members. cutimes.com/2026/08/13/trump…

Trump's New Effort to Remove Fed Governor Involves Two Credit Unions

The potential removal is over allegations that Lisa D. Cook made conflicting representations about her principal residence on two credit union mortgage documents.

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Peter Strozniak@CUTimesReporterAug 13

Chad Bridges claims he did not know his wife, Leigh Bridges, allegedly misappropriated $95M from Mississippi's Jackson Area Federal Credit Union while she was CEO. Whether this is true will be for a judge or jury to decide. cutimes.com/2026/08/12/husba… #creditunions #CEO #Mississippi

Husband of Former Jackson Area FCU CEO Denies Knowledge of Alleged $95 Million Scheme

Attorneys for Chad Bridges file a 33-page answer and affirmative defenses document in response to the NCUA's civil lawsuit.

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Peter Strozniak@CUTimesReporterAug 12

Former CEO of Mississippi's Jackson Area Federal Credit Union expects criminal charges to be filed against her for allegedly orchestrating a $95 million scheme, according to court documents. cutimes.com/2026/08/11/forme… #creditunions #fraud #Mississippi #CEOs

Former Jackson Area FCU CEO Expects Criminal Charges, Seeks Stay of NCUA Suit

Leigh Bridges seeks to suspend the civil litigation to protect her Fifth Amendment right against self-incrimination while the anticipated criminal case proceeds.

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Peter Strozniak@CUTimesReporterAug 11

A PA man allegedly used his position on the Susquehanna Valley Federal Credit Union board of directors to siphon more than $1M from an elderly woman that he had known since he was a child. cutimes.com/2026/08/10/credi… #Pennsylvania #crime #creditunions #boardmember

Credit Union Board Member Indicted in Alleged $1 Million Elder Fraud Scheme

William D. Brenner's alleged scheme at Pennsylvania's Susquehanna Valley FCU targets a woman in her 80s, whom he had known since childhood.

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Peter Strozniak@CUTimesReporterAug 6

Former executive hired to fix cybersecurity problems, leading to Patelco Credit Union's ransomware attack causing millions in losses is suing the California cooperative for alleged retaliatory firing over his IT audit findings, cutimes.com/2026/08/05/ex-pa… #California #creditunions

Ex-Patelco Audit Executive Alleges Retaliatory Firing After Cybersecurity Findings

Ricardo Araujo is terminated within days of giving a presentation pertaining to a crippling 2024 ransomware attack, in which he reported "substandard audit processes."

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Peter Strozniak@CUTimesReporterJul 30

A former Texas credit union CEO is asking the Supreme Court to hear his case that challenges the constitutionality of the NCUA's administrative enforcement system. cutimes.com/2026/07/29/ex-cr… #creditunion #SCOTUS #CEO #Texas

Ex-Credit Union CEO Asks Supreme Court to Decide Constitutional Questions Over NCUA Enforcement...

If the Supreme Court agrees to hear Jeffrey Moats's case after reviewing his petition and any response from the NCUA, it could happen as early as this fall.

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Peter Strozniak@CUTimesReporterJul 1

Bankers want the government to require federal credit unions to file IRS Form 990, following the staggering $95M in losses at the Jackson Area Federal Credit Union in Mississippi conserved by the NCUA. But it's questionable whether that will work. cutimes.com/2026/07/01/icba-…

ICBA Uses $95M Mississippi Fraud Case to Renew Form 990 Disclosure Push for FCUs

It's unclear, however, if Form 990 would have exposed the alleged fraud at Jackson Area Federal Credit Union.

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Peter Strozniak@CUTimesReporterJun 17

In addition to her work salary, Tina Funez received benefits....a lot of benefits that possibly amounted to at least $1M or more, courtesy of her "best friend" & former CEO Leigh Bridges who allegedly misappropriated $95M. cutimes.com/2026/06/16/ncua-… #creditunions #Mississippi #CEO

NCUA Adds Former Jackson Area FCU Branch Manager to $95 Million Fraud Lawsuit

Amended lawsuit says stolen funds were used to finance luxuries for Leigh Bridges' best friend and employee Tina Funez, including a house on a Caribbean island.

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Peter Strozniak@CUTimesReporterJun 12

When the Mississippi credit union CEO was confronted about the $95 million shortfall in the credit union's books, Leigh Bridges took a long pause and finally admitted to her "misappropriation." cutimes.com/2026/06/11/insid… #creditunions #NCUA #Mississippi

Inside the Meeting That Exposed a $95 Million Credit Union Fraud

Sworn testimony in the NCUA's lawsuit reveals CEO Leigh Bridges initially denied knowledge of a $95 million shortfall before admitting she transferred funds to support years of luxury spending.

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Peter Strozniak@CUTimesReporterJun 11

The plot thickens surrounding the shocking $95 million "misappropriation" at the conserved Jackson Area Federal Credit Union, revealed in previously sealed court documents filed by the NCUA in Mississippi federal court. cutimes.com/2026/06/10/ncua-… #creditunions #Mississippi #NCUA

NCUA Sues Former Jackson Area FCU CEO, Husband Over Alleged $95M Embezzlement Scheme

The agency alleges years of falsified records, fake deposit entries and concealed losses led to one of the most significant fraud investigations in decades.

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Peter Strozniak@CUTimesReporterJun 5

A new unsolved question: How did a Mississippi credit union lose $91.7 million? cutimes.com/2026/06/04/conse… #creditunions #Mississippi

Conserved Jackson Area FCU's $91.7M Loss Lowers Industry ROA in First Quarter

The loss is large enough to lower the industry's return on average assets by more than one basis point for Q1.

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