CUNA leaders talk CU issues, concerns w/ NCUA’s McWatters

March 27, 2019

CUNA leaders met with NCUA Board Chair J. Mark McWatters and agency staff Wednesday to discuss numerous credit union priorities. CUNA President/CEO Jim Nussle, Deputy Chief Advocacy Officer Elizabeth Eurgubian and Senior Director of Advocacy and Counsel Mitria Wilson participated in the talks.

CUNA thanked NCUA for announcing a $161 million share insurance fund distribution to credit unions, announced earlier this month, and for McWatters and former board member Rick Metsger’s participation in a panel discussion at this year’s CUNA Governmental Affairs Conference.

McWatters will be joined by two new board members as soon as they are sworn in, Rodney Hood and Todd Harper were confirmed by the Senate March 14.

The CUNA leaders also reiterated credit union concerns with the upcoming current expected credit loss (CECL) standard, including its effect on the financial standing of credit unions and the compliance burden it presents.

CUNA has called on the agency to provide credit unions with implementation resources for CECL. The NCUA will participate in an April 11 CECL webinar, along with other federal financial regulators.