NASCUS is the National Association of State Credit Union Supervisors. A distinguished association of all the credit union state regulators from around the Country. NASCUS held its annual meeting and conference - The NASCUS Summit - in Denver last week. One of the featured speakers at the Convention was Chairman Debbie Matz from the NCUA. Chairman Matz in her talk provided an update on the economy, federal legislative initiatives, pending regulation, and NCUA's perspective of the future challenges confronting the credit union movement.
After the presentation, as previously promised, Ms. Matz opened the floor for questions from the audience. NASCUS had been alerted several weeks in advance that there would be questions from the folks from North Carolina about the unjustified action by NCUA to preempt the NC regulator and to penalize NC state-chartered CU's with unnecessary, duplicate federal exams. NASCUS had appropriately advised NCUA to expect the questions and Ms. Matz had been "prepped" in anticipation of the dialogue.
Jack Braswell, CEO of Members' CU in Winston-Salem, N.C., is the NASCUS state representative for N.C. He asked Ms. Matz if she had received a recent letter from John Radebaugh, CEO of the NC Credit Union League, providing detailed information on the dispute and encouraging the state and federal regulators to meet to resolve the disagreement. Chairman Matz acknowledged that she and the other NCUA Board members had in fact received the letter and information. Mr. Braswell then inquired if Ms. Matz intended to provide a written reply to the N.C. League as requested. Ms. Matz indicated that she believed she had replied. When Mr. Braswell questioned that response, Ms. Matz looked to her Chief of Staff Steve Bosack, who indicated that a written response had not been forwarded to the N.C. League. Ms. Matz stated that in any event she had said all she intended to say about the matter and that no further response would be forthcoming. At which point the following exchange with Ms. Matz ensued. The "discussion" was fortunately recorded by a representative of the N.C. Credit Union League. The tone was courteous and polite. What follows is a complete, direct and verbatim transcription ....
"The Queen turned crimson with fury, and after glaring at Alice for a moment like a wild beast, began screaming: "Off with her head! Off with her head!" (...there are 48 state-chartered "Alices" in North Carolina!!)
Understand there is a good old case of playground bullying going on with my friends down in North Carolina. Seems like they are having to put up with a gang of Mike Tyson wannabees who are biting off ears and punching below the belt...well below, just barely above the socks actually. Well our writers for the show sure do appreciate all the free material, because you really can't make this stuff up - its too absurd! So, for those folks in the Tarheel State who are just trying to run a good old-fashioned Credit Union....Here is the list of the Top 10 Questions you should ask 'da "Regionator" about his illogical logic:
Why are you picking on folks you say are completely innocent?
Is it illegal for a State to publish an independent "state issued" rating?
Understand that you have admitted that your undemocratically made-up "rules" do not overrule the N.C. State Legislature - is that true?
Appears that you cite the Freedom of Information Act (FOIA) which you now confess does not apply to independent state reports - is that true?
Assume you know that at one time folks "universally' believed that the World was flat - do you still believe that's true?
How did you attempt to "resolve" this situation - when, how, and with whom? Would you please send documentation of your efforts?
What other "alternatives" did you consider to "resolve" all this? Can you list your options? Why was this draconian penalizing of the innocent your "only alternative"? How did you make that decision?
Do you actually think this letter has helped average folks "understand" your action? Really? Really?
Glad you have so readily volunteered to openly and publicly discuss your motives and rationale in taking this action - when may we expect to hear from you? ...AND #10 !!!!
Is everything in your letter "slanted" - or is it just your signature?
... when are you available to come on the Show?
Got quite a large, national audience who certainly want to hear us chat!!!
"21Saul was told about it, and he sent more men, and they prophesied too. Saul sent men a third time, and they also prophesied. 22Finally, he himself left for Ramah and went to the great cistern at Secu."