WASHINGTON — NCUA and NASCUS have shown their distinct differences pertaining to the structure of the federal deposit insurance system in comment letters to Treasury on the reconfiguring of the financial services regulators.
"NCUA has a successful record of regulating federal credit unions charters and also serving as insurer," NCUA Chairman JoAnn Johnson wrote in the agency's letter.
However, NASCUS reiterated its wish that "the responsibilities of the insurer and the primary regulator should be separate, distinct, and well defined," similar to the FDIC. "NASCUS believes that this structure limits conflicts of interest between the regulator and the insurer and allows an insurer to be independent," NASCUS Executive Vice President of Government Relations Sandra Troutman wrote.
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
