ARLINGTON, Va. — NAFCU has staked out a position opposing NCUA collecting any further data about how credit unions are serving their members. The NCUA's Outreach Task Force has recommended the agency keep collecting data on this topic.

In a letter to the agency NAFCU said it was aware that the Task Force had actively sought to find the least burdensome way of collecting information, but still opposed any further data collection on the grounds that such collection could lead to further regulation.

“In our view, there is no statutory or Congressional directive for NCUA to collect this type of credit union data,” NAFCU wrote. “Further, it is NAFCU's opinion that the recommended data collection and reporting requirements could lead to the regulatory imposition of further burdensome requirements for credit unions that would not only have a fundamentally negative impact on the way credit unions conduct business, but would also have significant detrimental consequences for the strength and vitality of the federal credit union charter.”