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Remarks by NCUA Board Member Gigi Hyland at CUNA 2012 Governmental Affairs Conference

Good morning.

If you’ve watched television in recent months, you may have noted a new trend to present shows based on classic fairy tales. In the spirit of this trend, I’d like to begin my remarks with a brief tale.

Once upon a time, in a land just outside of this convention center, lived a woman who believed passionately in credit unions. In her youth, she worked as an attorney, helping credit unions and their members understand federal laws, disclosure requirements and residential real estate transactions. After several years, she joined CUNA to represent corporate credit unions and to provide legal advice to CUNA’s political action committee, CULAC. Then, she traveled north to work as general counsel for Empire Corporate FCU. At this very gathering seven years ago, many people urged her to submit her name to be appointed to the Board of NCUA. In November 2005, after she was nominated and the confirmation process completed, she transformed, changing shape, into – cue scary music! – a regulator.

Many of you may believe that the transformation of a strong credit union advocate into a strong regulator is a tale of true horror, as grim and grisly as any fairy tale. I can assure you it is not...​