Hyland Speaks to N.Y. State League On Possible Compensation Disclosure
WASHINGTON -- NCUA Board Member Gigi Hyland said the NCUA Board is still deciding whether to require credit unions to disclose additional data on executive compensation.
Hyland, who chaired the board's Outreach Task Force recommending the additional disclosure, said credit unions do a good job of serving the underserved and the task force dealt with issues that would make their efforts even more effective. She made her comments during a May 20 speech at the New York State Credit Union League's annual meeting in Albany.
She also said that while credit unions are well positioned to provide credit to individuals negatively impacted by the subprime mortgage crisis, the credit unions should be certain to closely monitor core deposits to practice asset liability management.
Hyland spoke about the efforts of the NeighborWorks Center for Foreclosure Solutions, which works to provide counseling services and home mortgage financing for low- and moderate-income families trying to buy homes or facing financial difficulty in homes they already live in. Hyland is NCUA's liaison to the Washington, D.C.-based nonprofit organization.