ALEXANDRIA, Va.—NCUA Board Member Mark McWatters is again asking whether the agency is truly providing regulatory relief for credit unions.
In the February issue of The NCUA Report, McWatters stated that “a goal of the NCUA board should be to look back and review the actions we have taken to determine if they provided ‘reg relief.’”
In his column McWatters said that “fair and balanced regulation should not be beyond the capacity of NCUA.” He emphasized that if the agency continues to operate “under the principle that problems within a few must be corrected by new regulations for all, most credit unions will continue to be needlessly punished and the agency’s scope and budget will always grow.”
McWatters recommended that if instead NCUA focuses on how well risks are “anticipated, mitigated and contained—both at the agency- and system-level—credit unions that address their risks well will have added flexibility to serve their communities, and the agency will have more resources, without exacting more funds from credit unions, to address material safety and soundness issues.”
The report also addresses the rise of cardless ATMs, a topic previously reported by CUToday.info here, No Cards Needed At These ATMs—But Will The Tech Catch On? and a column from NCUA Chairman Debbie Matz on the benefits of the Community Development Financial Institutions Fund.
Other articles in the latest issue:
- America Saves and Military Saves Week Runs February 22–27
- Board Actions: NCUA Invites Comments on Methodologies for Overhead Transfer Rate, Operating Fee
- What to Know If Your Credit Union Holds MSB Accounts
- 2016 Examinations Will Focus on Greatest Potential Risks
- 2016 Regulatory Review List Now Available on NCUA.gov
- Deadline to Register for the CUSO Registry is March 31