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Metsger Talks Industry Issues, Regulatory Burden and Washington

Board Member Richard Metsger sat down with Credit Union Times Oct. 15 at the NCUAs Alexandria, Va.-based headquarters. President Obama nominated Metsger, a former Oregon state senator, to the NCUA board in May. He was confirmed by the U.S. Senate and was sworn in Aug. 23. Metsger served on the...

By Nicholas Ballasy | Updated on October 23, 2013
NCUA Board Member Rick Metsger (left) discussed industry issues with Credit Union Times Washington Reporter Nicholas Ballasy.

Board Member Richard Metsger sat down with Credit Union Times Oct. 15 at the NCUA’s Alexandria, Va.-based headquarters. President Obama nominated Metsger, a former Oregon state senator, to the NCUA board in May. He was confirmed by the U.S. Senate and was sworn in Aug. 23. Metsger served on the board of directors of the Portland Teachers Credit Union from 1993 to 2001.

Credit Union Times: What is your position on a 2014 corporate assessment? The NCUA board typically announces an estimated range at its November meeting.

Metsger: I haven’t got a particular position on how much that range will be. I will say that it has come in on the lower end as I understand it the last couple of years. As you know, there’s an outstanding debt to Treasury. I think in the world of “don’t do what I do, do as I say,” I think it is prudent on part of the NCUA to pay its debts, and to do that as quickly as possible. The biggest assistance to assessment is the elimination of debt, and of course we’re pursuing that on the legal front and very aggressively for those who caused and have been major contributors to the cause of the collapse. I’ll be very focused on those recoveries to pay that debt because that, in the long term, is what’s going to mitigate assessments for credit unions.

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