WASHINGTON — NCUA is preparing a proposal that would move all of the bylaws of federal credit unions into the agency's body of regulations as way of providing it the ability to intervene in bylaw disputes, NCUA Board Chairman JoAnn Johnson told attendees at CUNA's 2007 Government Affairs Conference.
Speaking to the general session on Feb. 26, Johnson described the history of how the agency once included credit union bylaws in its regulations and then deregulated them in 1982.
She also noted that the agency believed it had the authority in the Federal Credit Union Act to regulate bylaw disputes, but that the Act provided no effective remedies except for the most drastic measures of charter suspension and or liquidation if the bylaws were not included as regulations.
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