Looking Back

Looking back seven years ago finds CUNA’s 27 members Renaissance Commission embarked on its ambitious mission to study federal charters, state charters and NCUA structure and regulation.CUNA President/CEO Dan Mica described the meeting as an orientation for the members to introduce themselves and their concerns for “what the credit union environment should look like” to the group. A vital step since the group spent the next several months hearing from a diverse cross section of the credit union community.“The commission is entirely inclusive and will rule nothing out. Everything is on the table,” said Mica.That issue also finds privately insured state chartered credit unions learning the ABC of the FTC’s privacy regulations via a late afternoon conference call hosted by NASCUS with invited speaker Guy Messick, the general counsel for the National Association of Credit Union Service Organizations.“The FTC regulations mirror the NCUA regulations. The principle difference is in the two agency’s definition of affiliate,” said Messick.