The League of Southeastern Credit Unions is off to a controversial start, after President/CEO Patrick LaPine fired off an Aug. 4 letter to his board members questioning the Alabama regulator's July 31 conservatorship of Mutual Savings Credit Union.

In the letter, obtained by the Credit Union Times, LaPine said he spoke with dismissed CEO Dale Dalbey, who resigned from his position as league board treasurer earlier this week, as well as NCUA Region III Director Alonzo Swann.

"To make a long story short, the motivations of the state regulator … is suspect at best," LaPine wrote.

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