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News Now

Washington
Hyland NCUA coordination with state rulemakers must continue
ALEXANDRIA, Va. (8/24/09)--National Credit Union Administration (NCUA) board member Gigi Hyland late last week said that the “strong, collaborative working relationship” between state credit union supervisors and the NCUA “must continue” as regulators and credit unions “work through these difficult economic circumstances.” Speaking before the National Association of State Credit Union Supervisors (NASCUS) State System Summit, Hyland also encouraged credit union representatives to closely review and comment on upcoming changes to the rules that govern corporate credit unions, which are widely expected to be released this fall. Hyland, according to an NCUA release, also said that she is planning to present a white paper that would lay out the qualities that supplemental capital sources must have in order to “align with the credit union cooperative financial business model.” Hyland is planning to present the paper to the NCUA Board for consideration, according to the release. Hyland also discussed the recent changes to the Central Liquidity Facility and legislation aimed at addressing the member business lending cap. (See related story: NCUA's Hyland Suggests Phase in of MBL Authority, Aug. 21.)


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