Becker: No Impact On Future Corp Boards
ARLINGTON, Va.-Count NAFCU President Fred Becker among those who believe the WesCorp board member liability issue is unique to that corporate, and not representative of a potentially larger problem.
"I don't think this will impact the future of corporate boards at all," said Becker. "From what I understand, the CUNA Mutual coverage for the directors at WesCorp was $100,000 for investments; it does not mean that it could not be higher than that. Right now this only affects those who have a problem, like WesCorp, and will not have a long-term impact on the directors at corporate, assuming corporates raise the limits on the supplemental coverage."