CUNA Urges NCUA to Reconsider Corporate CU, Reimbursement, and BSA Regs

CUNA has sent a letter to NCUA in response to its annual Economic Growth and Paperwork Reduction Act review that encourages that agency to revisit regulations concerning corporate credit unions, reimbursements to credit union volunteers and employees, and Bank Secrecy Act requirements. Specifically, CUNA requests that NCUA reconsider provisions relating to vote recordation and audit and reporting requirements for corporate credit unions. For natural person credit unions, CUNA recommends taking a closer look at reimbursements, insurance coverage, golden parachutes and indemnification requirements. [9/23/15]