Call CEO pay the credit union governance hot potato. “This is certainly an increasingly hot topic,” said attorney Michael Lozoff, chair of the credit union practice at Shutts and Bowen in Miami.
I received the current CU times today and was horrified when I saw the front page picture that was related to Telesis Credit Union. [April 4 issue, page 1.]
I discovered that Credit Union Times’ coverage of Telesis Credit Union’s conservatorship and the actions leading up to it were being used against credit unions’ efforts to expand the member business lending cap from 12.25% of assets to 27.5%.
Legislation that would raise the cap on credit unions' business loans to members is poised for a mid-April showdown in the Senate.
Credit Union Times Editor-in-Chief Sarah Snell Cooke calls on Congress to expand member business lending authority and unleash jobs growth.
ICBA says Telesis Community lending practices shows why Senate member business lending bill "threatens the entire credit union sector."