Change Desperately Needed at the NCUA

Editor’s note: The following letter to the editor was originally posted as a comment to our April 7, 2015 CUTimes.com letter to the editor, “Why Are Credit Unions the Last to Know?” by Alicia Nelson, and our April 10, 2015 Editor’s Column, “Oh, the Irony: The NCUA, NCUSIF & Alabama One” by Executive Editor Heather Anderson.

RBC1, RBC2 and now this (the NCUA’s NCUSIF Improvements white paper, which NAFCU Director of Regulatory Affairs Alicia Nelson called “another piece of the NCUA’s agenda for mitigating perceived risks within credit unions”) … same old, same old! It’s the same group operating in the same manner with the same disregard for the regulated. It’s just a different object of their deliberations that is receiving “the NCUA treatment,” and is yet another reason why the NCUA needs an advisory group similar to the one at the CFPB. It’s easier to fix something when it’s being deliberated than when it’s put forth as a really stupid idea. I would recommend the NCUA to sit in on the credit union advisory group meeting and witness what listening actually looks like.