At the recent hearing of the U.S. House of Representatives Financial Services Financial Institutions Subcommittee on credit union regulatory burdens, a credit union trade association proposed that the size of the NCUA Board increase from three members to five members.
One of the reasons given for that change was to allow for greater representation on the NCUA Board by individuals with credit union experience, including someone who is a state credit union regulator.
Some people would say that Washington and government generally follow the philosophy of when you think you have a problem, throw more money at it and it will be solved. I am of the opinion that the testimony given promoting the idea of an expanded NCUA Board was driven by such a belief.
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