B.C. financial regulator launches review of how credit unions are run


British Columbia’s financial services regulator is launching a sweeping review that could result in major changes to the governance of the province’s credit unions.

Financial Institutions Commission superintendent Carolyn Rogers told The Globe and Mail that a task force will soon be appointed to examine the role of boards of directors in charge of credit-union co-operatives.

Unlike chartered banks, the people who use credit unions elect their directors.

Read full article here.

Sean Holman – Globe and Mail – June 19, 2011.

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