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News Now

CU System
New regulator addresses Iowa reg. conference
DES MOINES, Iowa (2/22/11)--The Iowa Credit Union League (ICUL) held its annual regulatory conference Wednesday in Des Moines, with more than 100 Iowa credit union representatives convening to learn more about regulations affecting the credit union industry and to hear from a new regulator. Newly appointed Iowa Division of Credit Unions Superintendent JoAnn Johnson, former chairman of the National Credit Union Administration (NCUA), kicked off the conference with an address. Johnson noted that Iowa credit unions are some of the most well-capitalized credit unions in the U.S. “Iowa credit unions are healthy, and by working together we’ll make them even stronger,” she said. As the new superintendent, Johnson said she wants to have regular and two-way communications with credit unions. Johnson and her staff intend to review as many Iowa credit union regulations as possible to determine if there are ways to streamline. “We want effective rather than excessive regulations,” said Johnson. Conference attendees also learned about federal and state regulations affecting Iowa credit unions, risk-based lending, collections issues, social media compliance and human resources/employment law update. Iowa Gov. Terry Branstad named Johnson the superintendent of IDCU after receiving the resignation of the current superintendent, James Forney, on Feb. 8. Johnson will serve the remainder of Forney’s term which ends April 30. Gov. Branstad has submitted Johnson’s name for confirmation as superintendent of IDCU for a four-year term beginning May 1. Johnson was elected to the Iowa State Senate in 1994 and served as chair of the Senate Ways and Means Committee for four years, and the Senate Commerce Committee for one year. She was appointed to the NCUA in 2002 and served as chairman of the agency from 2004 through 2008.


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