The major league sports of baseball, basketball and hockey each have All-Star Games which are held mid-season. These games signal the end of the first half of the season and the beginning of the race to finish. For teams that have done well up to that point, it presents an opportunity for a few days of relaxation before the effort to complete a successful season and perhaps win a championship. For those teams that have struggled, it is a chance to regroup and impress their fans with a strong second showing and instill hope for a better team next year.
For the National Credit Union Administration (NCUA), the month of August serves as its mid-season break. There is no special event held to mark that time, rather, it is the non-event of no board meeting that month.
Some may argue that the absence of a board meeting is the biggest and best event of the year. No NCUA board meeting means no new regulations being passed or proposed, no special assessments and no additional regulatory burden on the industry. Can life be better that that?
But come September, the reprieve is over, and NCUA is back for the second half.
Credit unions should always remain positive and hope for the best as the agency takes the field to try to finish strong. There are some tough issues on NCUA's schedule, and hopefully the August break has helped to build up the energy needed to complete the season successfully.
On deck is the field of membership regulation. Will the board step up and make all the changes that need to be made or will it just do enough to appease the industry and leave them wanting and needing more?
Will the long awaited public budget hearing be an effort to openly listen to suggestions and make changes, or will it be an effort in futility?
Will the board follow the recent bipartisan suggestion from Congress to put a moratorium on regulations, or will it ignore the expressed intent of the lawmakers and continue to increase the burden on CUs?
Will the board challenge the overreach of the Consumer Financial Protection Bureau into the credit union industry, or will the agency sit on the bench, hoping the issue will fade into the background?
Will the board implement a longer exam cycle for well-run credit unions, or will the current 12-month plan extend into 2017?
It's the second half of the season. It's the time of year when the star players step up to the plate to show whether they have the stuff to be team leaders. Can we count on the NCUA Board to put forth a winning effort? Or will we just have to wait until next year?
Michael E. Fryzel is a credit union attorney/consultant in Chicago, and former NCUA chairman.
