On March 28, the League hosted a Regulator Roundtable as part of Credit Union Day in Augusta. The event, which was attended by 27 credit unions and the Insurance Trust, featured speakers from the National Credit Union Administration (NCUA) and the Maine Bureau of Financial Services.
Wendy Angus, Associate Regional Director of Programs and Joanne Black, Supervisory Examiner with NCUA, joined Lloyd LaFountain, Superintendent at the Maine Bureau of Financial Institutions, at the two-hour long discussion which provided an overview of regulatory changes, financial trends, and NCUA’s reorganization. The speakers encouraged attendees to keep the lines of communication open with their offices and gave credit unions a platform to ask questions, raise concerns, and discuss supervisory issues.
“I hope our credit unions found the dialogue and information shared to be valuable,” said Ellen Parent, Regulatory and Legislative Advocacy Coordinator for the Maine Credit Union League. “I think I speak for everyone when I say how much we appreciate the time Wendy, Joanne, and Lloyd gave to our credit unions. Complying with state and federal regulations can be challenging, but forums like these certainly help to clarify and deepen our understanding.”
NCUA also noted key issues for credit unions to focus on. Those include:
- Home Mortgage Disclosure Act (HMDA)
- Military Lending Act
- Regulation B – Equal Credit Opportunity Act
- Regulation E