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.
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