WASHINGTON — Regulatory relief did a handful of good things for credit unions and NCUA, but it has also provided state regulators with more say at the federal level than before.
Under a provision in the reg relief bill, the chairman of the Federal Financial Institution Examination Council's State Liaison Committee has been granted a vote in the council. The current committee chairman is Steven L. Antonakes, commissioner of the Massachusetts Division of Banks, according to the FFIEC.
"The FFIEC State Liaison Committee Chairman voting rights and state system task force representatives are critical to ensuring state regulators are represented in discussion on policy issues and guidance that affects the state regulatory system," NASCUS President/CEO Mary Martha Fortney said. "NASCUS looks forward to working with FFIEC, the SLC and the Task Forces in 2007."
NASCUS also reported that state regulators will soon begin serving on FFIEC task forces.
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