NCSL reaffirms support for dual-chartering system

SAN ANTONIO, Texas – The National Conference of State Legislators wrapped up its 2001 annual conference renewing its support for the credit union dual-chartering system and articulating its opposition to any proposal to establish either a federal or dual system for the regulation of insurance. The five-day event was held August 11-15 at the San Antonio Convention Center. According to Mary Martha Fortney, vice president accreditation and government relations for NASCUS who attended the conference, NCSL affirmed it will not accede any authority to the federal government to preempt states’ regulation of insurance. NCSL further stated its opposition to any effort by the Administration or Congress to erode the dual chartering system by preempting states’ credit union laws and regulations. More than 6,000 legislators, as well as their staffs and representatives from other businesses attended this year’s NCSL annual conference. Although most of the legislators attending were from states’ governments, there were also a good number of federal legislators at the conference, such as: U.S. Sen. Kay Bailey Hutchinson (R-Texas) who was a keynote speaker on efforts to protect state authority and flexibility in the federal system; and Congressman Martin Frost (D-Texas), chair of the House Democratic Caucus and Ranking Member of the House Rules Committees. U.S. Secretary of Education Rod Paige also attended the NCSL’s conference. NCSL’s 2002 annual meeting will take place next July in Denver.