Credit unions concerned with NCUA incentive-based compensation rule
WASHINGTON, DC (April 21, 2016) — Following Thursday’s National Credit Union Administration (NCUA) board meeting revealing a revised proposed rule on executive compensation, a rule that was last proposed in 2011, Credit Union National Association (CUNA) president/CEO Jim Nussle released a statement:
“We’ve heard loud and clear from our members – credit unions are concerned the NCUA incentive-based compensation rule gives the agency too much supervisory authority over how credit unions remunerate their employees. CUNA will continue working closely with NCUA to change the proposed thresholds and to minimize the extent to which the agency will review and supervise incentive compensation programs at credit unions. Furthermore, the agency should study in detail the relationship between incentive-based compensation and credit union performance. This is another one-size-fits-all rule from regulators. While the intent is to rein in the bad actors who brought upon the economic crisis, credit unions are yet again being saddled with regulatory burden.”
About CUNA
Credit Union National Association (CUNA) is the only national association that advocates on behalf of all of America’s credit unions, which are owned by 135 million consumer members. CUNA, along with its network of affiliated state credit union leagues, delivers unwavering advocacy, continuous professional growth and operational confidence to protect the best interests of all credit unions. For more information about CUNA, visit cuna.org. To find your nearest credit union, visit YourMoneyFurther.com.
