NCUA should require greater transparency regarding CEO pay

The National Credit Union Administration’s Voluntary Merger proposal would require a merging FCU to disclose to its members all merger-related financial arrangements in whatever form they may take that are paid to its CEO, the next four highest paid employees after the CEO, the board of directors, and the supervisory committee.

In justifying the proposal, the agency cites the need for transparency and disclosure so that members can make an informed decision about a merger.

Both Chairman McWatters and Board member Metsger invoke transparency numerous times during the May 25th Board meeting, when discussing the proposal.

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