Regulatory & Compliance

The DOJ has not issued guidance despite past calls by six senators, 103 House members and 19 attorneys general.

"We are partially at fault for that, we should have been ready to act sooner," the NCUA board member says, referring to the taxi crisis.

The NCUA is proposing to increase the percentage of nonmember and "public unit" shares from 20% to 50%.

"What makes all this more troubling is that regulators appeared to be aware of risky lending practices years earlier."

The agency says it was extending the deadline to "facilitate the ability of commenters to consider the issues raised" in the proposal.

Hood says, during an exclusive interview with CU Times, he wants to ensure that credit unions continue to follow the rules.