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In “Legislators, Regulators Seek Credit Union Oversight Secret Sauce,” Ms. Cooke puts forth a flawed notion that the size of the NCUA board can make the difference between what is good policy vs. “cheap” policy. Frankly, that is not the issue, efficacy is. 

What benefit would be derived from increasing the size of the board? Improved governance is not guaranteed simply because there is more debate or the size of the board increases. Greater transparency and accountability do not necessarily require either of these. For this reason, NAFCU has been steadfast in opposing any unnecessary government actions that increase costs to credit unions without providing any benefit or relief to their members. This has included various past proposals to change the NCUA board from three to five members.

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