Monday, August 3, 2015

Does CUNA Really Believe NCUA Is a Prudent Regulator?

In an op ed appearing in The Hill, the president and CEO of the Credit Union National Association (CUNA), Jim Nussle, defended the National Credit Union Administration (NCUA) as a prudent regulator.

Nussle's opinion piece was in response to an earlier editorial by Frank Keating, president and CEO of the American Bankers Association, that called NCUA a cheerleader regulator.

If you look up the term "prudent", it is defined as acting with or showing care and thought for the future. An alternative definition is wise or judicious in practical affairs; sagacious; discreet or circumspect; sober.

However, actions speak louder than words.

CUNA's withering assault on NCUA on numerous issues ranging from risk-based capital requirements to third party vendor supervisory authority to NCUA's budget raises serious doubt that CUNA really believes NCUA is a prudent regulator.

4 comments:

  1. Cuna, NCUA, Nafcu have turned on each other.
    It's a circular firing squad as the fables have now caught up with them.
    Cuna is so out of touch they don't even get how silly they look while Nafcu gloats about their lofty FABLED prowess.
    NCUA, the less said the better.
    The last days of the empire are and will look ugly like this.

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  2. If NCUA is getting criticized by those outside of the CU movement as being too lenient and the CU trade associations saying they are being too restrictive than maybe NCUA is really striking the appropriate balance

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  3. Pretty "iffy" logic... so, if you stand with one foot in a bucket of ice water with the other in boiling water, then of course everything is comfy.

    Commenter may have great future as a "robust" capital markets specialist at the NCYA!

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  4. Iffy might not be too nice.
    Lacking a legitimate and fact based platform, NCYA, cu (not accountable)na, and na(fairy tale)fcu are good at 2 things...blaming us for their lack of legislative progress and spending member money.

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