The National Credit Union Administration's revolving door is spinning again.
President George W. Bush elevated Republican board member Dennis Dollar to acting chairman on Friday. He is the agency's third chief in the past three months.
Mr. Dollar, whose term runs through April 2003, succeeded Democrat Yolanda T. Wheat, who was named chairwoman by President Clinton on Jan. 3. Ms. Wheat took over from the controversial Norman E. D'Amours, who resigned Dec. 28 after seven years as chairman. She remains a board member.
Before coming to NCUA, Mr. Dollar was chief executive officer of the Gulfport, Va., Federal Credit Union from 1992 to 1997.
Mr. Dollar is best known for his Reg-Flex, or regulatory flexibility, proposal, which Mr. D'Amours had kept off the NCUA's agenda. The initiative would remove some regulatory requirements for credit unions with high capital and performance ratings.
That is not good news for banking industry lobbyists, who want more - not less - bank-like regulation for credit unions.
Credit Union National Association president Daniel A. Mica hailed the change in leadership in a statement.
"Credit unions have told us they view Mr. Dollar as a good fit for the agency, in that he will allow for a continued cooperative working relationship with the agency that has not been seen in years," he said.
Treasury Secretary Paul O'Neill sure knows when to get out of town.The former head of aluminum maker Alcoa was in New York Wednesday to meet with about 30 Wall Street executives, including Citigroup chairman and chief executive officer Sanford I. Weill and Morgan Stanley Dean Witter & Co. CEO Philip Purcell, according to news reports.
Back in Washington, his agency was having a bad day.
The Treasury's main building was evacuated in the afternoon after employees complained of toxic fumes. Environmental Protection Agency investigators and District of Columbia health officials found an unknown, volatile organic substance in the building's old sewer system and said they believed hazardous material had been illegally dumped, according to news reports.
The evacuation came just a few hours after an apparently suicidal gunman was shot in the leg outside the White House - and next door to the Treasury building.
Mr. O'Neill safely navigated Wall Street, which could have been hostile territory for him considering that in a Wall Street Journal article he had described financial traders as "people who sit in front of a flickering green screen" and "not the sort of people you would want to help you think about complex questions."
Comptroller of the Currency John D. Hawke Jr. will head an informal electronic finance task force within the Basel Committee on Bank Supervision's financial stability forum. The group will discuss how financial supervisors, including insurance and securities regulators, can share data on their activities, Mr. Hawke said in a speech in Paris on Feb. 5.
The post-election exodus of public-sector employees to private-sector jobs continues:The Independent Community Bankers of America has tapped Richard Gupton to be deputy director of agricultural finance. He previously was subcommittee staff director and counsel to the late Sen. Paul Coverdell, R-Ga., who was chairman of a Senate Agriculture subcommittee. Mr. Gupton will work with Mark Scanlan, the ICBA's director of agricultural finance.
Kevin L. Thurm, Health and Human Services deputy secretary in the Clinton administration, was hired to be the first director of strategic planning in Citigroup Inc.'s consumer division. Mr. Thurm was deputy secretary from Aug. 30, 1996, until George W. Bush was sworn into office Jan. 20.
Katie Herberger joined the Credit Union National Association Jan. 29 as legislative affairs manager. In the newly created post, Ms. Herberger is to lobby House lawmakers. Before joining CUNA, Ms. Herberger was a legislative assistant to Rep. Shelley Berkley, D-Nev., and previously worked for Rep. John LaFalce, D-N.Y.
CUNA also plans to add Patricia Raymond to its staff on March 5 as political programs director. In this newly created post, Ms. Raymond is to work with lawmakers to carry out the group's political action programs. Ms. Raymond was assistant vice president of governmental affairs for the Pennsylvania Credit Union League.
Graham Champion, senior vice president and manager of governmental affairs at Amsouth Bancorp., has been named the 2001 chairman of the Financial Services Roundtable's government affairs council. Susan Callanan,USAA assistant vice president for federal relations, is the panel's vice chairman. Michael J. Monroe, an executive vice president at KeyCorp, was named head of the group's public affairs council.
R. David Whitaker, the former assistant general counsel at Freddie Mac, joined the Goodwin Procter law firm's Washington office on Jan. 22. Mr. Whitaker is a specialist in laws and regulations governing electronic banking, specifically digital signatures and payment systems.
