Thomas Calls NCUA Member Service Report 'Step in the Right Direction' But More Needed

WASHINGTON — House Ways and Means Committee Chairman Bill Thomas (R-Calif.), who sparked NCUA’s modest means member data collection pilot, called NCUA’s Member Service Assessment Pilot report “a step in the right direction.”

However, he added that the agency still has “much more work ahead of them with respect to transparency and data collection.” Thomas also accused NCUA and the credit union trade associations of “overstat[ing] the strength of the results of the report, especially those results which lead them to justify expansions of fields of membership. It would be premature to draw sweeping conclusions from the NCUA’s preliminary analysis. Additional data gathering will be helpful in determining the veracity of these results and to measure progress.”