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WASHINGTON — CUNA is urging NCUA to re-write its proposal for disclosure of “material” increases in compensation in mergers because the agency lacks “adequate substantiation.”

“We seriously question whether the low figures NCUA has chosen are indeed ‘material’ or would entice a credit union official to make a choice that was not in members’ best interests,” CUNA’s letter read. “Without further explanation from NCUA, it is unclear on what basis the agency could arrive at the appropriate level for disclosure.

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