White House reviews credit union regulator's letter

WASHINGTON, Feb 13 (Reuters) - The U.S. Office of Management and Budget on Monday said it was reviewing a letter sent by a regulatory agency to credit unions to determine whether the letter should have first been cleared by the White House.

On Friday, the National Credit Union Administration told the credit unions it oversees that it would start collecting data on their membership and management compensation and benefits.

Under the U.S. Paperwork Reduction Act, government agencies must generally seek clearance from the Office of Management and Budget (OMB) before any planned information collection....for more of the story from Reuters