ALEXANDRIA, Va. — CUNA and NASCUS are looking at the state charter implications of the proposed rule issued for comment this month by NCUA that establishes parameters for disclosing executive compensation increases in merger deals.
"We already had been looking at what states have required but we don't have any answers yet," CUNA Deputy General Counsel and Senior Vice President of Regulatory Advocacy Mary Dunn said. Additionally, she said CUNA and its relevant committees would be studying the requirements of other nonprofit organizations as well.
The important thing she said of this proposal–and NCUA's proposed regulation on member access to books and records–is to "make sure the process for access to books and records works well." The ability of members to access relevant information needs to be balanced with potential opportunities by those members to manipulate the system.
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