WASHINGTON–A former American Bankers Association executive who a decade ago launched a “Credit Union Watch” blog has announced the blog has come to an end.
Dr. Keith Leggett, who retired from the ABA as SVP and senior economist, said he has decided now is the right time to stop writing this blog.”
Leggett launched Credit Union Watch in June of 2009 in the wake of the corporate credit union crisis with a look at how the NCUA board had allowed “corporate credit unions to retroactively backdate their capital levels.”
Since that time, Leggett said he has filed some 3,000 blog columns. Leggett retired from the ABA in 2015 but continued to author the blog entries.
“I am an outsider. I never belonged to a credit union. For some true believers in the credit union industry, my views may have been heresy,” wrote Leggett in his final blog entry. “Over the years, I have written about the corporate credit union crisis, the credit union taxi medallion lending debacle, the merger of banks into credit unions, and other issues. I have decided that this is the right time to stop writing this blog.”
Most Recent Entries
Leggett’s most recent blog entries have had to do with plunging net worth at a conserved credit union, growth in mortgage originations, a claim “NCUA overstates the interest rate differentials between credit unions and banks,” and an argument in favor of NCUA publishing stress test results.
As CUToday.info also reported, Leggett also recently looked at the compensation paid to CEOs at state-chartered credit unions.
Leggett said he may not be completely finished, adding in his most recent blog entry, “…That does not mean that I will quit following credit unions and the National Credit Union Administration. I may even opine on arbitrary actions by NCUA.”
The blog can be found here.