Political veteran Jennifer Wagner is the new director of credit union advocacy for the Credit Union Association of Oregon.
She will play a strategic role in CUAO's governmental affairs department and will oversee CUAO's grassroots advocacy efforts, which include the CU advocate program, CULAC fundraising and other legislative outreach initiatives.
Wagner has worked as a field representative and legislative assistant for several federal and state legislators from Oregon, including Congressman Kurt Schrader and former Congresswoman Darlene Hooley (both D-Ore.). She was also the campaign manager for State Rep. Greg Macpherson.
"Jennifer's background makes her especially suited for this position, and we are excited to have her join the CUAO team to take our advocacy programs to the next level," said Pamela Leavitt, senior vice president of governmental affairs and public relations.
Wagner replaces Kasey Rockwell, who has recently transitioned into a new role as CUAO's director of credit union development.
NCUA Explains NCUSIF Coverage
The NCUA recently wrote to federally insured credit unions to remind them that accounts of up to $250,000, which have been covered by the NCUSIF since last October, will continue to be covered through 2013.
NCUA Chairman Michael E. Fryzel wrote that the extension, which was signed into law by President Obama last month, applies to all kinds of share accounts, including regular shares, share drafts, money market accounts and share certificates. The maximum coverage for IRAs and Keogh accounts remains unchanged at $250,000 and isn't subject to the 2013 expiration.
He urged credit unions to communicate these changes to their members.
Fryzel added that in the future the agency plans to provide guidance on the impact of the changes on premiums for the NCUSIF.
For additional information, go to www.ncua.gov/resources.
SEC Examines Compensation
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The Securities and Exchange Commission is considering several proposals on executive compensation and whether conflicts of interest exist between a company's managers and board members.
The commission said it will take a look at a company's overall compensation approach, including incentive structures and potential conflicts of interest by compensation consultants, and the disclosure of relationships among consultants, the company and their affiliates. The SEC is also considering a proposal on greater disclosure about director nominees, including their experience and qualifications to serve on the board or on particular board committees.
SEC Chairman Mary Schapiro said while it is not the agency's role to set pay scales or cap compensation, it does want to ensure that investors have the information they need to make sound investment decisions, whether those decisions impact proxy voting or a decision to buy or sell stock.
NCUA to Hold Workshops
Credit union employees wanting to learn about the latest regulatory changes that affect credit unions can attend one of the NCUA's two upcoming workshops.
The agency is hosting a workshop on June 27 in Buffalo, N.Y., and on July 16 in Louisville, Ky.
Both sessions will deal with issues such as liquidity risk, collections and changes to NCUA Call Reports.
Although there is no charge for the all-day events, the agency has travel stipends of up to $250 available to credit unions with $15 million or less in assets.
For additional information, go to www.ncua.gov.
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