"Toxic board members" hot topic for attendees at National Director's Convention
A new series from the Georgia Department of Banking and Finance addresses the role of boards of directors at credit unions and banks.
The industry debate over term limits for directors surfaced anew last week with Unitus Community CU of Portland, Ore. announcing that it has adopted new guidelines to deal with the sensitive matter.
In late January, the NCUA announced some new rules, and clarified others, applicable to boards of federally chartered credit unions. Everyone is focused on the new NCUA requirements for financial literacy in board members, but some may be overlooking an even more important pronouncement: The NCUA stated that while boards...