Texas Credit Unions Hope for Full Recovery After Sharpstown Collapse
Credit Union Commissioner Bruce Gibson says eleven Texas unions with uninsured Sharpstown deposits ranging from 40 000 to 300 000 each could recover most or all funds. He anticipated near full payoff, noting federal insurance caps at 20 000 per depositor. Gibson’s November information prompted stern guidance to limit deposits, later rescinded due to doubts about legal authority.
MENTIONED IN THIS ARTICLE
Austin (Ap
Texas
Sharpstown State Bank
Bruce Gibson
Gibson
Houston
Sharpstown
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