Jeb Hensarling’s latest draft legislation to overhaul Dodd-Frank would retain a three-member structure.
The NCUA chairman says he does not expect any major policy changes for the board under Trump.
President-elect Trump is expected to create a GOP majority on the NCUA board.
The NCUA board must ensure it neither abuses its authority nor keeps credit unions in the dark.
FCUs must be examined every 23 months; federally insured, state chartered CUs will be examined at regional directors’ discretion.
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A slow-moving Senate and Herrera’s ties to the Center for Responsible Lending could delay his journey to the NCUA board.
Herrera is SVP for Latino and Hispanic affairs at Self-Help CU, and co-founder and board chair of Latino Community CU.
More bureaucracy from the NCUA is not better than simply having it exercise its existing authority.
The NCUA board chairman is the Heinz ketchup of credit unions - the packaging may change, but the person still controls the agency's agenda.