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News Now

Washington
Bill of Rights for CUs is focus of CUNA exam subcommittee
WASHINGTON (7/21/10)—The rights, as well as obligations, of a credit unions within the context of the examination and supervision process are being fully explored by the Credit Union National Association (CUNA). The CUNA examination and supervision subcommittee this week committed to reviewing CUNA's current policy regarding examinations, including the “Credit Union Bill of Rights,” CUNA developed to help ensure credit union leaders are aware of their obligations as well as their due process when supervisory issues arise. “Credit unions want to understand their obligations but also their rights of due process when they are involved in a supervisory action, ” said CUNA Deputy General Counsel Mary Dunn Tuesday. Dunn noted that while CUNA does not focus on individual supervisory cases, CUNA does pursue universal credit union concerns that may be presented by individual cases, such as issues that have arisen in California. She added that CUNA is a forming a working group under the auspices of the CUNA Examination and Supervision Subcommittee, chaired by Ohio League President Paul Mercer. "We want to work with all stakeholders on this endeavor, including credit unions, leagues, NCUA, and NASCUS to ensure credit unions are aware of the proper role and duties of the regulator as well as their own appropriate roles. The subcommittee set a goal to have strong and comprehensive report by early fall.


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