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NAFCU Asks NCUA to Hold Off on Re-Incorporating Bylaws into Regulation for Now

While NAFCU shares the agency's concerns over member access to the courts, NCUA should not re-incorporate its bylaws into regulation at this time.

By Sarah Snell Cooke | Updated on August 20, 2007

ARLINGTON, Va. — While NAFCU shares the agency’s concerns over member access to the courts, NCUA should not re-incorporate its bylaws into regulation at this time.

According to NAFCU’s comment letter on the matter, due today and signed by Senior Vice President of Government Affairs Dan Berger, “NAFCU does not agree that federal regulation and oversight of bylaws disputes is appropriate at this time. NAFCU member credit unions have expressed concern that the involvement of the NCUA could result in various unintended consequences.” For example, a small group of unhappy members of other antagonists could create undue hardship for the credit union.

 

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