On-Site Coverage: Cheney Announces Work on CU Bill of Rights
ANAHEIM, Calif. -- Addressing the California and Nevada Credit Union Leagues' Annual Conference, CUNA President/CEO Bill Cheney said CUNA is working with the NCUA Board to establish a credit unions' Bill of Rights in supervisory actions.
Following reports of some unspecified behavior by examiners that raised eyebrows during credit union exams, CUNA began work on a Bill of Rights that purports to help credit unions understand their rights while facing a Document of Resolution or other supervisory action. "If they're taking supervisory action, you need to know what it means...It seems if you're going to sign a Letter of Understanding and Agreement, you should understand it and agree to it," Cheney said.
The effort is being headed up by a taskforce regarding issues involving the NCUA.