ALEXANDRIA, Va.-NCUA last week said it had added new rules to its standards for employee ethics, including provisions that would prevent agency employees, including examiners, from also taking on additional work at credit unions.
The goal, the agency said, is to avoid any potential conflicts of interest.
The new rules went into effect last week and require any NCUA employees to get approval from the agency for any type of outside work in which they want to be engaged.
In addition to credit unions, the new rules, called "Supplemental Standards of Ethical Conduct for Employees of the National Credit Union Administration," also apply to CUSOs, CU trade associations and any related entities.
The prohibition also applies to volunteer positions, with the agency saying an examiner cannot serve as a credit union board member, because of potential conflicts of interest or the appearance of the same.
For info: www.ncua.gov.
