Looking back six years ago finds the controversial Community Action Plan proposal passing in a 2-1 vote. Board Member Dennis Dollar cast the sole dissenting vote on the IRPS 00-1 proposal, which he generally favored except for the CAP.
"The field of membership rewrite is, I think, one of the most progressive steps that we have taken in recent years to make our field of membership policies more user-friendly…and to accomplish the result of extension of credit union service to more Americans," said Dollar applauding the FOM amendments. "My fellow board members' goals are noble and it's a goal that I share. I believe that their method of attaining that goal is not the method that we should be taking."
That issue also finds NCUA's intent to raise overhead transfer rates igniting sparks from NASCUS.
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"Now's the time to do something. Even if the agency decides to hold the line at under 50% that doesn't make it right. When you get to the point where NCUA spends more than the FDIC does to run its fund, then there are no longer any economies of scale," said NASCUS President Doug Duerr. "The overhead transfer rate dilemma speaks to the deep schism between NASCUS and NCUA on the NCUSIF issue."
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