WASHINGTON — The presidents of the two national credit union trade associations said they were disappointed with the NCUA board's 2-1 decision on Thursday to pass rules changes that increased the amount of data collected.
CUNA President Dan Mica said that the changes are "unnecessary" and burdensome, given the nation's economic difficulties.
Mica praised the board, however, for listening to CUNA's concerns and crafting the rules to assure credit unions that the data won't be used to create report cards and that the rules won't take effect until Jan. 1.
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