Is a personal feud between Corporate America Credit Union CEO Thomas Bonds, who took a leave of absence from his post last month, and NCUA Office of Corporate Credit Unions Director Scott Hunt the reason behind the delay in NCUA approval of a merger between the $3.7 billion Corporate America and the $218 million Louisiana Corporate Credit Union?
Correspondence between the Alabama state credit union regulator and the NCUA suggests it might.
Fifteen months have passed since the boards of directors of the two corporates announced their intent to pursue a merger. Despite approval in 2011 by the Louisiana Office of Financial Institutions and the State of Alabama Credit Union Administration, the NCUA has yet to approve it.
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