Chip Filson is a co-founder of Callahan & Associates and currently serves as the company’s chairman of the board or directors. A nationally recognized leader in the credit union industry, Chip is a frequent speaker and consultant for the credit union movement. He has more than a quarter century of experience in government, financial institutions, and business, and he co-founded Callahan & Associates in 1985. He’s held concurrent positions at the National Credit Union Administration (NCUA) as president of the Central Liquidity Facility (CLF) and director of the Office of Examinations. He holds a magna cum laude undergraduate degree in government from Harvard University. After being awarded a Rhodes Scholarship, he earned a master’s degree in politics, philosophy, and economics from Oxford University in England. He also holds a master’s degree in management from Northwestern University’s Kellogg School in Chicago.
NCUA is setting an anti-democratic precedent in its repeated efforts to keep private the legal opinions about its public regulatory authority. RBC is one example. The CUSO rule is another. Will there be more?
How did the three board members and NCUA fare during the open meeting in which the agency released the revised risk-based capital proposal?
To craft an effective response, credit unions must understand how board members view the rule.
If NCUA implemented the role of the practitioners in the spirit of member participation, then the precedent could be an important milestone in how the agency works with credit unions.
A speech by the vice chair of the FDIC should be top of mind as the industry considers the new risk-based capital proposal.
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