The NCUA board would be expanded from three to five members under the sweeping financial regulatory overhaul plan being developed by House Financial Services Committee Chairman Jeb Hensarling (R-Texas).

Hensarling outlined his plan last week and Republican leaders in the House endorsed it on Tuesday. An 18-page document posted to NAFCU’s website Wednesday expanded upon the outline and contained specific legislative proposals, including an expansion of the NCUA board. Hensarling’s office was not immediately available to comment on the document.

Would a five-member NCUA board be better for credit unions?
Yes, for better continuity. No, it’d be less effective. I’d prefer if Congress focused on legislation credit unions need. Other Please Specify:

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The outline did not contain a rationale for increasing the size of the board, but there is precedent for such action.

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Credit Union Times

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