Who are the 'Credit Union Advisory Committee"

[Black_Adder]

I note in the new bucketful of overdone insane regulations introduced in January 1 2016, that they referred to consultation with a 'Credit Union Advisory Committee'.

Anybody know who the membership is?

 

[24601]

Prof. Donal McKillop of Queens University (he has completed a huge amount of academic study on CU's and Co-ops), Denise O'Connell of Grant Thornton and Joe O'Toole of Seanad Eireann fame. I don't actually know what they do, if they do indeed do anything.

 

[wysiwyg]

They were formed to gather direct feedback from key personnel in CU's relating to the legislation in CP88 which was introduced 1.1.16. They are also seeking commentary from CU's as to how the central bank performs in their interactions with CU's, and taking on board any recommendations in areas such as this. I believe they report directly into the Dept of Finance, who were responsible for the updated Legislation of the CU Act

 

[Black_Adder]

Thanks 24601 -

and anybody that works in the business?

 

[24601]

They were formed to gather direct feedback from key personnel in CU's relating to the legislation in CP88 which was introduced 1.1.16. They are also seeking commentary from CU's as to how the central bank performs in their interactions with CU's, and taking on board any recommendations in areas such as this. I believe they report directly into the Dept of Finance, who were responsible for the updated Legislation of the CU Act

This is incorrect. The CUAC was established by the Credit Union Act 1997. They also didn't do anything of the sort in relation to CP88.

To my knowledge they do not have any role in 'seeking commentary' from Credit Unions in relation to the Central Bank.

 

[Black_Adder]

24601 - so what are they? A Central Bank rubber stamp is what is coming to mind.
Part of the CP88 (and is now law) is simply insane and is the work of the devil.