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This week, the NCUA and other financial regulators will testify before the House Financial Services Committee and discuss the impact of red tape on the country’s consumers.

While having the NCUA discuss credit union issues before Congress is certainly welcome, NAFCU is just as concerned with what may not be discussed.

Transparency should not only be reserved for the positive. And there have been a lot of positives lately. The most recent announcement from NCUA that credit unions may not have to pay any future corporate assessments was certainly good news. The more than $1.75 billion in total recoveries from securities lawsuits is unbelievably positive. The share insurance fund continues to improve as the number of CAMEL 4 and 5 credit unions decreases.

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Dan Berger

 

Credit Union Times

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