Reputation Risk; 2012 NCUA Board Meeting Schedule
Written by Steve Van Beek
A helpful reader (Mr. Demangone himself) passed along an article from the front page of the Washington Post on Wednesday. Â The article discusses a lawsuit brought against some of the larger banks for allegedly charging illegal fees on home refinances for veterans under a VA loan program. Â While this case may play out for a long time and the final determination is unclear, one thing is certain - these institutions have taken a severe hit to their reputations. Â Â Â
One of beauties of this blog is the ability to reach back and find what was written about a particular topic in the past. Â Here is a blurb from a past post discussing reputation risk:Â Â
"By now, I hope you understand that I take a broad view of what a compliance officer should think about. Â At the end of the day, we manage risk. Â A good compliance officer not only worries about how something should be done - they also think about whether the credit union should even attempt to do it. Â Credit unions should measure reputation risk when making every business decision."
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Recently, the NCUA announced their Board meeting schedule for 2012. Â If you are responsible for tracking NCUA's regulatory actions at your credit union - these are important dates to put on your calendar as NCUA proposes and finalizes regulations at these monthly Board meetings. Â Â