MADISON, Wis. (8/14/15)--Wisconsin credit union leaders had the rare and valuable opportunity for a candid and productive face-to-face discussion Tuesday with National Credit Union Administration board member J. Mark McWatters at the Wisconsin Credit Union League’s Credit Union House in Madison, Wis.
Attendees found themselves aligned with McWatters on a wide variety of timely and important topics, including the NCUA budget process, the overhead transfer rate, transparency and risk-focused exams.
“We appreciated Mr. McWatters' candor and obvious commitment to engaging credit union system partners like leagues and CUNA, to ensure that regulations are balanced by the actual risk presented by the practice or service the regulation is designed to address,” Tom Liebe, league senior vice president of advocacy, told News Now.
“His deference to practitioners’ perspectives on issues such as examination fairness, the need for a genuinely objective appeals process, loan underwriting practices as well as budget discipline and real government transparency, was refreshing and certainly welcome by attendees,” Liebe added.
McWatters described his vision for ensuring government is efficient, effective and accountable. He elaborated by explaining that meaningful transparency for an agency isn’t simply about the volume of information it shares with stakeholders at any one time, but rather how and when the information is presented.
McWatters said the NCUA “absolutely” needs comments from credit unions to shape effect regulation and policy. He urged attendees to provide the agency with “well-articulated, specific concerns” on issues that credit unions are facing, or policy issues that affect credit unions.
He stressed that as a lawyer he prefers comments that cite specific rules that can be directly referenced.