Credit union changes nudge out NDIC chief. (Samuel J. Rizzo resigns from National Deposit Insurance Corp.)

Credit union changes nudge out NDIC chief

The resignation of National Deposit Insurance Corp. President and CEO Samuel J. Rizzo comes as the private insurer of credit union shares is feeling the pressure exerted on the entire deposit insurance industry.

"Things have definitely changed," said Jeffery A. Robb, NDIC chairman and acting CEO. "In the last few years our board has taken a more active role, and, as we have done that, our former CEO has resisted it."

Rizzo, who had been president of NDIC (formerly the National Deposit Guaranty Corp.) since 1975, resigned Aug. 20. His departure was announced 10 days later. A search committee has been formed to seek a new president, said corporate secretary and general counsel Duane Welsh. Welsh said …