Alabama's top credit union regulator, under fire for the July 31 conservatorship of a Birmingham CU, the $193 million Mutual Savings, has had to apologize for what he said were printed claims and "misunderstandings" about board actions in the CU's collapse and state takeover.

In a Sept. 30 letter to attorneys representing the ousted Mutual board, Glenn T. Latham, Alabama Credit Union Administrator, said he had "no memory" of accusing the Mutual board of filing inaccurate 5300 reports to NCUA.

Latham, who has been vocal in criticizing the fired CEO, Dale Dalbey, and directors for "bad management" practices and misrepresenting loan data said he would have "no comment" on his apology letter, but insisted again he is being made a fall guy or scapegoat for "just trying to do my job and save this credit union."

The Alabama regulator maintaining he is "taking a lot of unfair potshots" said the facts in the case will come out in a state court suit slated to be heard in Columbiana, Ala. Oct. 26. That suit brought by Dalbey and the Mutual board seeks an injunction to overturn the conservatorship and re-establish the prior management.

In its letter to Latham demanding the apology or face a libel suit, Victor L. Hayslip, a partner in Burr & Forman of Birmingham accused Latham of making "defamatory statements" and false statements "without foundation" as published in media reports including Credit Union Times.