David Chatfield, interim California and Nevada Credit Union Leagues president/CEO, wasted no time jumping back into the spotlight, harshly criticizing the NCUA in a June 30 interview with Credit Union Times from his home in Prescott, Ariz. Chatfield is slated returned to his former position at the trade organization on July 6, taking over for Bill Cheney, the incoming CUNA president/CEO, while the leagues find a permanent replacement.
Chatfield said NCUA seized Arrowhead Credit Union June 25 because some in the agency "had an axe to grind." (See article, page 1.) He also spoke out against NCUA's support of the financial reform bill because language that could reduce interchange income for credit unions is still included.
"I think it's disappointing and surprising that NCUA announced support for the bill, because as is, it will hit credit unions pretty hard," he said. "I think CUNA made good arguments about how the ultimate burden will be put upon consumers, in this case credit union members, and it's a shame NCUA decided to take a different approach."
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