NCUA has proposed two regulations that would bring more transparency to credit unions. Both regs were shunned by CUNA, NAFCU and many credit union leaders.

It's time to get concerned. How quickly we forget the problems of the past? Credit unions have urged NCUA to jump into the hostile takeover issue, they have asked NCUA to ensure compensation of executives is disclosed in any potential bank conversion, and they were outraged when NCUA didn't step in and enforce the member petition for a special meeting in the DFCU Financial case.

Based on this recent history, it seems credit unions clearly want NCUA to be proactive and not a passive regulator, yet when it comes to transparency of mergers and executive compensation they want NCUA to look the other way. The most recent GAO report on credit unions brought up the need for more transparency with credit union executive salaries and lawmakers have echoed the report. I would much rather see NCUA get proactive and be viewed as a proactive regulator on Capitol Hill than standing back and waiting for Congress to get upset.

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