NCUA to look at role in bylaw enforcement

ALEXANDRIA, Va. (1/23/05)—Chairman JoAnn Johnson of the National Credit Union Administration (NCUA) will soon direct her general counsel to make recommendations regarding what role the agency should take in the enforcement of credit union bylaws.

For instance, agency staff will study whether credit union bylaws—or portions of them—should be reintroduced into the agency regulations.

Johnson, who made her remarks last week at an American Association of Credit Union Leagues (AACUL) meeting in Palm Springs, said her direction to staff will come as a result of recent controversies surrounding some credit union plans to convert to mutual savings bank form. (CUNA News Now)