United States Government Publishing Office publisher pbl distributor dst United States Government Accountability Office author aut Government Organization text government publication eng GAOREPORTS Legislative Agency Publications gao legislative 2010-08-12 U.S. Government Printing Office 2006-11-30 monographic deposited born digital 24 p. GA 1.13:GAO-07-72R https://www.govinfo.gov/app/details/GAOREPORTS-GAO-07-72R P0b002ee180394c40 f:d0772r DGPO 2010-08-12 2011-03-23 GAOREPORTS-GAO-07-72R machine generated eng fdlp REPORT GAOREPORTS-GAO-07-72R GAO-07-72R Agency proceedings Credit unions Evaluation criteria Internal controls Policy evaluation Professional ethics Regulatory agencies Strategic planning Board of directors Policies and procedures Correspondence A63784 During recent congressional hearings and in public speeches, statements made by the National Credit Union Administration's (NCUA) Chairman and another board member raised congressional interest in the ability of NCUA to collect and objectively analyze data on credit union membership and executive compensation. More generally, these statements also raised issues about the agency's overall vigilance as a regulator and the independence and objectivity of NCUA's board and senior staff from the industry being regulated. As a result, Congress asked us to expand upon our current work looking at the tax-exempt status of credit unions to include a review of governance policies and procedures for NCUA's board of directors and senior staff and more specifically how the policies and procedures address independence and objectivity issues. This correspondence (1) compares controls and related procedures applicable to NCUA that help ensure the independence and objectivity of its board members with those of other federal financial regulatory agencies and relevant recommended management practices identified in academic and industry literature and (2) describes NCUA's use of Schedule C staff compared with that of other federal financial regulatory agencies. https://www.govinfo.gov/content/pkg/GAOREPORTS-GAO-07-72R/html/GAOREPORTS-GAO-07-72R.htm https://www.govinfo.gov/content/pkg/GAOREPORTS-GAO-07-72R/pdf/GAOREPORTS-GAO-07-72R.pdf GAO-07-72R https://www.govinfo.gov/app/details/GAOREPORTS-GAO-07-72R Correspondence GAO-07-72R; Corporate Governance: NCUA's Controls and Related Procedures for Board Independence and Objectivity Are Similar to Other Financial Regulators, but Opportunities Exist to Enhance Its Governance Structure; Agency proceedings Credit unions Evaluation criteria Internal controls Policy evaluation Professional ethics Regulatory agencies Strategic planning Board of directors Policies and procedures