After just six months on the job, the NCUA's Office of Corporate Credit Unions dismissed U.S. Central Federal Credit Union CEO James L. Nance on Sept. 25.
The regulator doesn't comment on personnel matters but said in a release that the "action was taken due to divergent views about how to move U.S. Central forward." The firing occurred on Scott Hunt's first full day as permanent OCCU director.
The NCUA has not revealed its plans for U.S. Central but is preparing new corporate regulations and possible structural changes it has said it will release later this year. The NCUA has said on several occasions that it intends to hold distressed securities to maturity in an attempt to regain some market value.
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
