Regarding the Final Rule – Payday Alternative Loans
“For American consumers who encounter unexpected expenses, meeting immediate financial needs can be difficult. Credit unions offer safe and affordable short-term loans to their members and we thank the NCUA board for creating an additional payday alternative loan option.” Ryan Donovan, CUNA Chief Advocacy Officer
Regarding the Final Rule – Supervisory Committee Audits
“Simplifying the audit process with a targeted list of procedures can help credit unions. We’re pleased to see the NCUA recognize that burdensome and outdated regulatory guides impede swift and efficient credit union operations.” Ryan Donovan, CUNA Chief Advocacy Officer
Regarding the Final Rule – FCU Bylaws
“We thank NCUA leadership for acknowledging the need for flexibility with regard to federal credit union bylaws. It is our goal to ensure that regulations are tailored to changing market practices and address basic corporate governance in a prompt manner.” Ryan Donovan, CUNA Chief Advocacy Officer