ARLINGTON, Va. — NAFCU has staked out a position opposing NCUAcollecting any further data about how credit unions are servingtheir members. The NCUA's Outreach Task Force has recommended theagency keep collecting data on this topic.
|In a letter to the agency NAFCU said it was aware that the TaskForce had actively sought to find the least burdensome way ofcollecting information, but still opposed any further datacollection on the grounds that such collection could lead tofurther regulation.
|“In our view, there is no statutory or Congressional directivefor NCUA to collect this type of credit union data,” NAFCU wrote.“Further, it is NAFCU's opinion that the recommended datacollection and reporting requirements could lead to the regulatoryimposition of further burdensome requirements for credit unionsthat would not only have a fundamentally negative impact on the waycredit unions conduct business, but would also have significantdetrimental consequences for the strength and vitality of thefederal credit union charter.”
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