An NCUA proposal to encourage non-federally insured credit unions to pay into the Temporary Corporate Credit Union Stabilization Fund violates a federal statute banning extortion by government employees, according to American Share Insurance.
Restricting CUs to belonging to one corporate is "contrary to the principle that member-owner natural person credit unions determine the future of their corporates and the corporate system as a whole," NAFCU wrote in its comment letter to the NCUA.
The NCUA's proposal to encourage corporate credit unions to charge fees to non-federally insured entities is contrary to the intentions of the law and the notion that such payments would be voluntary is "disingenuous."
As credit union executives prepare to come to Washington next month to lobby Congress, here's a gentle reminder: Mind your manners.
While NACUSO has beat the drum to rally support on pressing industry issues, for the first time in its 26-year history, the association is putting together a plan of action for advocacy
A law passed by Congress giving the NCUA the power to make payments to the Temporary Corporate Credit Union Stabilization Fund without borrowing from the Treasury sparked an industry discussion about the agency's assessment process.
ARLINGTON, Va. -- While the NCUA's budget increase is unpopular and will be an added expense for credit unions, it's necessary to make up for the agency's past shortcomings in examinations, NCUA Board Member Gigi Hyland said last night.
A new legislative and regulatory advocacy committee with a focus on issues affecting CUSOs and their credit unions is the latest effort coming from NACUSO.
At next Thursday's meeting the NCUA Board plans to vote on a final rule mandating the information about overdraft protection programs.
Credit unions should be allowed to prepay their assessments and the NCUA should consider borrowing additional money from the Treasury, NAFCU President/CEO Fred Becker suggested in a letter sent to NCUA Chairman Debbie Matz today.