HONOLULU–NCUA’s proposed new rules giving it authority to step in in credit union bylaws disputes is not intended to be used capriciously, said NCUA board member Gigi Hyland. Hyland said the new rules, which have not been embraced by most credit unions and which were proposed after a number of credit unions ignored their own bylaws during conversion or attempted conversions to bank charter, are about “member rights.” But she added, “this will not become the issue du jour to examine you.” Hyland, who is also an attorney, stressed that the rule’s preamble limits NCUA’s authority and is fairly narrow in scope.”
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