Looking back four years ago finds NCUA Board member Debbie Matz holding a meeting with credit union leaders to discuss unintended consequences in the examination process. The candid dialogue between regulator and regulated was hailed a success by attendees.

"There was some feeling amongst the credit unions that when they make loans to the underserved or even when they consciously do something risky.that it's held against them, even if it's part of the business plan [or] if they have a high capital ratio, that it's still held against them perhaps because it was risky and it didn't turn out well."

Attendees also pointed out that if a credit union with 12% capital wants to try a program that could drop their capital level to 11%, it should not be penalized for it. That issue also finds the 10-year noncompete agreement between Corporate Network Brokerage Services and a U.S. Central brokerage CUSO abolished six years early, creating competitive implications for the industry's brokerage business on many levels. The move has also brought to light a sort of shared employee brokerage concept that may have already been in the works through other corporate network players. "CMI's strategic intent in getting into this business was to fulfill a member need to have a registered rep on staff, on-site at corporates. It's strategically good for our members, so strategically good for us. We don't expect to make a lot of money at this service, but corporates will be better positioned," said Dave Dickens, senior vice president of Asset Liability Management with U.S. Central.

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