An estimated 75% to 85% of credit union consolidation agreements contain significant merger related compensation for top executives, but this information is usually not disclosed to members before they vote on merging their credit union.
That may change this year if the NCUA board approves a proposed rule for voluntary mergers.
The NCUA board and its legal staff Thursday discussed a proposed rule regarding voluntary mergers that would provide greater transparency and disclosures to members of federal credit unions when those credit unions are seeking voluntary mergers.
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