ALEXANDRIA, Va. — In a video interview with CU Times, outgoing NCUA Board Member Michael Fryzel said the NCUA should consider guidance for the credit union industry over more regulation.

"I really think it's time that the NCUA board step back and say, 'hey, can we do some of these things that we want to do at credit unions through guidance rather than regulations and take some of the burden off of them and give them the opportunity to manage these credit unions the way they should be managing them and provide the services that they should be and allow them to be competitive?' said Fryzel.

"That's something the board needs to look at – take a step back and perhaps provide some relief on our end even though credit unions may still be impacted by the other federal agencies," he added.