Although government work isn’t always lucrative, 25 NCUA employees make more than $201,000 annually, according to agency records.
Bankers argued to NCUA that now-conserved Texans CU was in violation of its member business lending cap.
The NCUA’s rules regarding director responsibilities won’t increase the likelihood of litigation and won’t create a conflict between the interests of the credit union and individual members, NCUA General Counsel Robert Fenner said in an opinion letter.
The boards of federal credit unions can delegate hiring, firing and compensation functions to the executive committee and, within limitations, to the CEO, according to NCUA General Counsel Robert Fenner.
The NCUA recently reiterated that guidance on best practices involving third-party brokerage arrangements is just that and does not carry the force of formal regulation.
The NCUA said while it has offered guidance on best practices involving third-party brokerage arrangements, the suggestions do not carry the force or weight of formal regulation.
While credit unions are digesting the new corporate credit rules, the NCUA is preparing to release a new one that will address revenue issues.
I recently attended the NAFCU Chief Executive Officers Conference in Savannah, Ga., and the last speaker on the agenda was NCUA General Counsel Robert Fenner.
CUNA wants a pared down corporate credit union system that requires little new capital from natural person credit unions.
Credit union executives seem satisfied with the NCUA's methodology and corporate loss estimates presented at the regulator's Feb. 4 town hall meeting, said Southeastern League of Credit Unions President/CEO Patrick La Pine.