Now that the NCUA board has approved a proposal that would require all CUSOs to file financial reports directly with the regulator and the appropriate state supervisory authority, some CEOs of member business lending CUSOs have weighed on what the the changes may mean for their operations.
The former chair of the NCUA, JoAnn Johnson, is going back to supervising credit unions. Johnson was named last week by Iowa Gov. Terry Branstad as the state's new superintendent in the Iowa Division of Credit Unions.
Former NCUA Chair JoAnn Johnson, slated to become Iowa's top credit union supervisor next week, said Wednesday she is prepared to field some tough questions about excessive regulation, but she also contends industry conditions remain quite positive.