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First regulators put the squeeze to your credit unions and now the squeeze is on credit union executives. Multiple financial services regulators, including the NCUA, are required under the Dodd-Frank Act to curb executive compensation packages that could create a tension between personal interests and the long-term safety and soundness of the financial institution overall.

The goal of the regulation absolutely makes sense. But this is the job of the boards of directors and not the federal regulators, particularly as it pertains to credit unions. The board’s entire purpose is to ensure long-term viability of the credit union for its members. The legislation on this is bad public policy from the start. It represents further infringement of the government into free-market enterprise.

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