The orders with one exception had the same language barring the individual from:
- becoming an employee, holding any office in, or otherwise participating in any manner in the conduct of the affairs of any federally-insured corporate credit unions;
- consulting or advising any federally-insured corporate credit unions on any matters involving or related to investment securities, investment policy, or invesment strategy; or
- selling any investment securities ... to any federally insured corporate credit unions.
If these individuals are not qualified to work for or to participate in the affairs of federally-insured corporate credit unions, then how are these individuals qualified to participate in the affairs of or work for a natural person credit union?
And I am not the only person asking this question.
I was carbon copied along with The Wall Street Journal and The Washington Post on a letter to the NCUA Board that raised the same question.