United States. THE NATIONAL CONSUMER COOPERATIVE BANK HEARINGS BEFORE THE SUBCOMMITTEE ON FINANCIAL INSTITUTIONS OF THE COMMITTEE ON BANKING, FINANCE AND URBAN AFFAIRS NINETY-EIGHTH CONGRESS FIRST SESSION MAY 24, AND JUNE 14, 1983 Serial No. 98-34 Printed for use of the Committee on Banking, Finance and Urban Affairs 23-148 O U.S. GOVERNMENT PRINTING OFFICE WASHINGTON: 1983 HENRY B. GONZALEZ, Texas STEPHEN L. NEAL, North Carolina NORMAN E. D'AMOURS, New Hampshire WILLIAM J. COYNE, Pennsylvania RICHARD H. LEHMAN, California BRUCE A. MORRISON, Connecticut JIM COOPER, Tennessee MARCY KAPTUR, Ohio BEN ERDREICH, Alabama CHALMERS P. WYLIE, Ohio STEWART B. MCKINNEY, Connecticut GEORGE HANSEN, Idaho JIM LEACH, Iowa RON PAUL, Texas ED BETHUNE, Arkansas NORMAN D. SHUMWAY, California STAN PARRIS, Virginia BILL MCCOLLUM, Florida GEORGE C. WORTLEY, New York MARGE ROUKEMA, New Jersey BILL LOWERY, California DOUG BEREUTER, Nebraska JOHN HILER, Indiana THOMAS J. RIDGE, Pennsylvania CONTENTS Peach, J. Dexter, Director of Resources, Community and Economic Develop- ment Division; Robert E. Allen, Jr., Senior Group Director; Paul K. Elmore, Senior Evaluator; Andrew Kilgore; and Richard Kasdan, Senior Attorney, all of the U.S. General Accounting Office..... Stoehr, Eldon, Deputy Governor and Chief Examiner, accompanied by Ted Rabun, Associate Chief Examiner; Robert Hanley, Project Manager, NCCB Examination; and Fred Medero, General Counsel, all of the Farm Credit Comerford, John, president of the Mercantile Co. of Boston, Mass., and Acting Mohn, Paul, Chairman of the Audit committee, National Consumer Coopera- Rofsky, Mitch, Acting President of the National Consumer Cooperative Bank.. Sollars, Frank, Chairman of the Board of Directors, the National Consumer ADDITIONAL MATERIAL SUBMITTED FOR INCLUSION IN THE RECORD 184, 189 Comerford, John, prepared statement with attached appendixes. Condit, Thomas S., response to letter of Chairman St Germain dated June 17, Letter from Chairman St Germain dated May 24, 1983, expressing disappointment at not being able to testify at hearing. Responding by letter dated May 25, 1983, regretting to be unable Letter from Chairman St Germain dated May 25, 1983, scheduling an (III) 53 |