NCUA compensation plan must address CU concerns: CUNA
02/14/2011 03:04 pm
CUNA acknowledged that inaccurate early reports of what is covered by the rule may have added confusion to the debate. However, the trade group underscored that there are a series of legitimate issues to be addressed prior to the agency finalizing a draft, which is expected to be considered at this Thursday's open meeting.
As background, the Dodd-Frank Wall Street Reform law requires the federal financial regulators to issue a joint rule or guideline on incentive-based compensation arrangements.
The rule or guideline is not meant to address general compensation like salaries, but rather targets such things as commissions paid to certain employees or officials for undertaking investments, making loans or other activities that expose the institution to high risk.