ALEXANDRIA, Va.–The NCUA board unanimously passed a rule that will move community charter expansion requests to its Office of Consumer Protection and take it off the board’s future agenda. Only appeals will go to the board.
Prior to the vote, board member Mark McWatters said his one concern, which he said he has discussed with the agency’s general counsel, is about due process around any expansion request rejected by the OCP.
“If the OCP makes a decision the credit union disagrees with, there is an appeal to the board. And that comes to the board without the other party being represented before the board,” said McWatters, who is an attorney. “So it’s due process with a footnote. I do not want to have a chilling effect upon someone who wants to appeal and that they can advocate before the board.”
NCUA Chairman Debbie Matz said she agreed with McWatters and that it’s “probably time to take a look at our appeals process.”