Region III League presidents meet with NCUA Director Herb Yolles
11/22/2010 05:18 pm
NCUA Region III Director Herb Yolles (left) meets with League Presidents including Patrick La Pine (right)
In an ongoing effort to improve the working relationship between Region III credit unions and federal regulators, League Presidents from throughout region met with senior officials from the National Credit Union Administration (NCUA) in Atlanta. The roundtable discussion touched on current issues and events important to credit unions.
The adjustments to how the NCUA approaches the examination process was one of the first issues addressed along with a discussion of how the leagues and NCUA can work more cooperatively during the implementation of the heightened regulatory enforcement approach. The NCUA will be adding 60 new examiners in 2011 and will operate with a heightened sense of urgency due to current economic difficulties faced by credit unions. This new urgency will result in increased credit union response obligations and shorter timelines for action. League presidents were pleased overall with the new manpower and training efforts by NCUA. LSCU President/CEO Patrick La Pine was encouraged by the steps and offered league assistance during the examiner training orientation period.
"The LSCU has made an effort to meet more with the NCUA to keep an open dialogue about credit union issues," said La Pine. "We've had Herb Yolles at a couple of our events and gone to Atlanta a few times to meet. It's good to continue to communicate with him and also let credit unions know he understands our concerns."
Yolles told the leagues that he is asking his examiners to be better communicators. He also says if credit unions are not satisfied with their exams, they should “proceed to the next level of NCUA management for discussions of the issues there.” Yolles added that such a step is not unique or discouraged within the agency. He also said that NCUA personnel were ready and willing to speak at credit union gatherings within Region III.
Other topics discussed were the implementation of the Dodd-Frank bill, indirect and member business lending, and interest rate risk. A complete summary of the meeting can be found by visiting the XXX.
League presidents in attendance included La Pine. Mike Mercer, Georgia; John McKenzie, Indiana; Charles Elliott, Mississippi; John Radabaugh, North Carolina; and Steve Fowler, South Carolina. Herb Yolles, region III director; Timothy Hornbrook, associate regional operations director; and Dave Hibshman, associate regional program director represented the NCUA.
The LSCU will continue to work with regulators on credit unions behalf. If you have any questions regarding this meeting, contact LSCU VP, Regulatory Affairs
Bill Berg at 866.231.0545 ext. 1028 or Director, Compliance
Scott Morris at ext. 2165.