Mary Dunn, senior vice president and deputy general counsel for the Credit Union National Association, addresses the Pennsylvania Credit Union Association's (PCUA) board members and Governmental Affairs Committee members, at a joint meeting. Other panelists included Chris Pippett (left), Fox Rothschild, and Brian Knight (right), National Association of State Credit Union Supervisors. Rick Wargo, PCUA Executive Vice President/General Counsel, moderated the discussion on regulatory issues. (Photo provided by the Pennsylvania Credit Union Association)
HARRISBURG, Pa. (2/17/12)--The Pennsylvania Credit Union Association's (PCUA) Board of Directors and Governmental Affairs Committee (GAC) adopted a resolution to support H.R. 3993, which would allow credit unions to obtain supplemental capital.
The association board and GAC convened Wednesday for a joint meeting in Harrisburg. PCUA President/CEO Jim McCormack and Board Chairman Michael Kaczenski welcomed the group.
Rick Wargo, PCUA executive vice president/general counsel, served as moderator for a discussion on regulatory issues, with panelists: Mary Dunn, senior vice president and deputy general counsel for the Credit Union National Association; Brian Knight, National Association of State Credit Union Supervisors; and Chris Pippett, Fox Rothschild.
There was discussion on how supplemental capital should/could work under Congress' H.R. 3993, the Capital Access for Small Business and Jobs Act
The resolution reaffirmed PCUA's position taken in 2009 to support supplemental capital as long as it preserves mutual ownership and the notion of one member, one vote.
There also was discussion about National Credit Union Administration (NCUA)/state regulatory exam issues, including H.R. 3461, the Financial Institution Examination Fairness and Reform Act, introduced by U.S. Rep. Shelly Moore Capito (R-W.Va.) and U.S. Rep. Carolyn Maloney (D-N.Y.). The bill would clarify the appeals process for examination issues, including an appeal that goes outside of NCUA to the Federal Financial Institution Examination Council.
PCUA is sending a letter to all members of its congressional delegation to encourage them to support the legislation.