Looking back eight years ago finds former NCUA Director of Examination and Insurance D. Michael Riley issuing a call to action for NCUA to update its regulatory relief efforts. “We have an agency for most credit unions.a federal agency-the NCUA-which is regulating and supervising like it was 1970,” said Riley. “It’s been treating CEOs, CFOs and the accounting profession like third-class citizens.” To fight back and pressure NCUA to make changes, Riley urges credit unions to experiment with everything from shared branching, CUSOs and super-CUSOs, to mutual fund accounts and more options in the short-term market. Riley went on to caution that an underperformance in share growth will mean liquidity problems in the future-especially if interest rates rise and record bankruptcies continue. That issue also finds Representative John LaFalce (D-N.Y.) offering up a field of membership “compromise” proposal and a “framework” for future action to avoid years of continued litigation. “While Representative LaFalce’s proposal is thoughtful, it illustrates the difficulty of devising arbitrary restrictions on credit union growth in an attempt at compromise,” said CUNA President Dan Mica. “That is why we’re going to keep our sights set on passing H.R. 1151.”

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