White House Forces Halt In NCUA MemberService Bid
WASHINGTON - (02/22/2/06)-- NCUA was forced Tuesday to suspendits new member services examination program just as it was about tobegin when the White House said the agency erred by not putting theproposal out for public comment first. As a result, NCUA saidTuesday it was issuing the program for the briefest public commentperiod, just five days, from Feb. 23 to Feb. 28, before launchingthe program. Any decisions on a potential timeline for the programwill be made following the comment period, according to NCUA. Underthe program, NCUA plans to collect data from 481 credit unions totry to measure credit unions's service to the underserved. But theWhite House Office of Management and Budget, after prodding byNAFCU, ruled the program amounts to a new collection of data, andtherefore, should be subject to proper administrative procedures,which includes a public comment period. NCUA had announced it wouldstart conducting examinations under the new program by the end ofthe month.