A group opposing the National Credit Union Administration's recent crackdown on conversions to mutual savings banks is lobbying Congress for more supervision of the regulator.
The Coalition for Credit Union Charter Options has criticized new NCUA regulations expanding disclosure requirements for conversions.
The group's representatives have been visiting lawmakers over the past week to call attention to what they say is unfair treatment by the NCUA in its invalidation of member ballots in the conversions of two large Texas credit unions, Capitol Hill sources told The Credit Union Journal.
The coalition was formed by executives of several converted credit unions with help from thrift lobbying associations. The intensified effort comes as top executives of the NCUA and the Office of Thrift Supervision - which has been critical of the NCUA's rulings - are scheduled to testify during congressional hearings on regulatory relief Thursday.
