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News Now

Washington
CUNA gives NCUA Outreach report full review
WASHINGTON (3/26/08)—The Credit Union National Association's (CUNA's) Governmental Affairs Committee this week is meeting to assess the National Credit Union Administration's (NCUA's) Outreach Task Force recommendations. That meeting follows work and discussion performed by CUNA subcommittees on federal credit unions, community credit unions, and examination and supervision. The CUNA board’s executive committee will be considering the GAC’s recommendations early next week. In February, the NCUA released its report which contained some recommendations that have generated deep concerns among some credit unions, including mandatory disclosure of executive compensation. “CUNA has been communicating these concerns directly to the NCUA board on an ongoing basis,” said CUNA President/CEO Dan Mica, and CUNA has taken the report to the credit union and league representatives on its key policy-making committees. “Our review process fully represents the diverse regions, charter types, asset sizes and other characteristics of U.S. credit unions," said Mica. "This process ensures that CUNA's ultimate response to the recommendations in the report are not just an instinctive reaction, but reflects the views of the many segments of our movement,” he added. Mica also noted CUNA’s efforts regarding the NCUA's advance notice of proposed rulemaking on conversions, mergers, hostile takeovers, board fiduciary duties and other corporate governance issues. He said CUNA is exploring credit union concerns and assured those concerns would be reflected in comments due NCUA by April 30. Use the resource link below for CUNA’s summary of NCUA’s Outreach Task Force Report.


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