Learning when to speak up is an art in both personal interactions and leadership of a public agency.
Words are critical in times of crisis and uncertainty. But the three NCUA board members have embraced silence as their preferred form of leadership.
Emptying Out the Federal Government
Entire agencies in Washington and across the country are being dismantled and staff arbitrarily let go. Every agency including the FDIC, the FTC board (an independent agency) and all those on which the public relies from the CDC/NIH, to the VA and Social Security are being taken apart.
These radical reductions are not about fraud or efficiency. It is to break these agencies’ ability to deliver their basic services to the public. Services approved and funded by Congress. It is an attack on the core responsibilities of government and the citizens which depend on these services.
Where is the NCUA Board?
For at least the past year, the NCUA board members have been literally missing in action. There have been extended member absences due to medical or family leave.
Borad meetings have been routinely cancelled. Scheduled meetings have had micro agendas such as updates on internal programs while the difficult challenges of credit union direction are ignored. These chalenges include the growing spree of bank acquisitions and the pillaging of credit union member reserves by CEO’s in mergers,
Their inaction has been bipartisan.
The Current Uncertainty
This month the press reports NCUA has held two closed board meetings to discuss “personnel matters.” It is obvious the agency must respond to the administration’s imperative for drastic staffing cuts.
This is an issue that affects every credit union and its members. This is not about policy, but the abillity of the regulator to do its core job of examination and supervision.
In a democratic system, the ultimate arbiter of power are the people. In town and city across the country individuals are rising up to protect their interests responding to the disabling of key government functions.
But no one is standing up for NCUA because there is nothing to stand up for. No plan, no pending organization redesigns. Total silence.
When the time comes for action to protect credit union interests, there will be no platform to defend. The troops will have been off fighting for CDFI funds, or to modify the CFPB’s structure or a myriad of other potential changes sorted out in every other part of government.
Moreover all this time the industry will reserve its biggest efforts and in conversations with top leadership in government, protecting credit union’s federal tax exemption.
No federal government agency can save itself from a targetted effort by political leadership to tear it down. Only the public who rely on these services can do so. And it is happening. Because the press and agency employees and former employees are speaking up in other purges to inform the public about what is happening.
But not so at NCUA. This is not the time for board silence. Rather united efforts balancing new realities with ongoing responsibilities should be presented as in everyone’s interest.
Where is that plan and the basis for credit unions and their membersto support it?