Glum is the one word summing up of the mood of the bridge task forces, at least for Members United Corporate Bridge and Western Bridge and their plans to create viable entities for tomorrow.
The sour mood was triggered by a pair of early February statements from the NCUA–one signed by NCUA chairman Debbie Matz, the other by Scott A. Hunt, director of the Office of Corporate Credit Unions–that set out the regulator's warnings against mergers of very large corporates that would result in an entity that might be too big to fail.
Right then, merger talks that had progressed far between Members United and Western Bridge came to a screeching halt.
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