ALEXANDRIA, Va. — Credit union and charter choice advocates alike for the most part urged NCUA to forget about its proposed regulation on member inspection of credit union books, records, and minutes.
As NCUA has worked in recent years to provide regulatory flexibility for the credit unions it regulates, CUNA and NAFCU have generally supported agency proposals; the same has held true for other attempts to create transparency in the credit union to mutual savings bank conversion process. However, this particular rule change has caused the two national trade associations to withhold their support and even encourage the proposal's withdrawal.
CUNA noted that its board earlier this month adopted a new policy on member access to books, records, and minutes, which states:
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