... NCUA is the federal regulator/insurer of all N.C. credit unions!
[4/16/2025] ALEXANDRIA, Va. – "NCUA Board Members Todd Harper and Tanya Otsuka, both Democrats, have been fired by the White House.... the firings
will only make it easier to roll NCUA up into another regulatory
agency,
In response to objections to the firings, White House press secretary
Karoline Leavitt told Reuters, “President Trump is the chief executive
of the executive branch and reserves the right to fire anyone he wants.”
As the CU Daily reported earlier, representatives of DOGE were in NCUA’s offices in Alexandria, Va. last week on Thursday and Friday. NCUA was given a mid-March deadline to provide the Trump administration with its plans for laying off employees as part of the White House’s broader effort to reduce the federal workforce.
To date, DOGE has overseen the terminations of tens of thousands of federal government jobs. NCUA has approximately 1,200 employees across its three regions in the U.S. A workforce reduction of 20% would involve close to 250 people..
Another possibility is that DOGE orders NCUA to sell its headquarters office in northern Virginia and move to smaller space. NCUA is one of the few government agencies that owns its own building."
✅ The one thing North Carolina credit unions should not do in the midst of this national controversy is push for passage "H.187 - CU Update".
😎 Or perhaps the Carolinas Credit Union League (CCUL) enjoys putting North Carolina's credit unions in regulatory jeopardy... and doesn't mind exposing the N.C. Legislature to unnecessary political risks?
Why put everything - and everybody - at risk over H.187?
unintentional consequences of becoming efficient ...
ReplyDeletethis is just the tip of the iceberg ...
once the hook is set, it won't be able to be removed ...
Not to get political but gutting agency after agency with massively increase inefficiency. Do I want an efficient federal government with minimal waste? Yes. Is treating public sector agencies like tech startups by slashing services and staff to “shake things up” only to rehire them again the wrong way to go? Ohhhhh you betcha. The pain from DOGE is already here and a mountain more is on the way. CUs would be wise to oppose this bill for now and ever.
Delete10:59 am "Not to get political..."
DeleteNow that's funny...
WASHINGTON–The Federal Deposit Insurance Corp. plans to let go more than 1,200 employees as part of the Trump administration’s efforts to reduce the federal workforce
ReplyDeleteNCCUD is the prudential regulator and this is a state bill. During a period of uncertainty, we need control and authority within the state. Actually more important that H.187 passes now.
ReplyDeleteWe also need leaders in credit unions to not run scared from bankers, and now the administration. Bank lobby complains? Shocker. Let's kill H. 187.
Admin gonna replace 2 board members? Panic and stop everything.
👉 From a national CU webinar yesterday:
ReplyDeleteQ: What does all this do to the tax status of credit unions?
A: Jim Nussle (CEO of CU trade association) : To me it reinforces our commitment to advocacy and engagement to make sure our message about 👉 the credit union difference 👈 is heard.
Unicorn or industry standard?
If there is no difference, then you're like everyone else ...
ReplyDeletealmost sounds like a Yogi Berra quote ... :)
About time! Clean house at the NCUA and make Credit Unions Great Again!
ReplyDelete