FARMERS BRANCH, Texas -- In a routine but still protective maneuver, Texas credit unions are engaged in a letter-writing effort this month to ensure the viability of an independent regulator under the state's sunset laws.
"This is a process that is basically one of simply getting on the record to ensure preservation of the dual chartering system in Texas," explained Buddy Gill, chief advocacy officer for the Texas Credit Union League.
At last count 64 Texas CUs had written letters to the Texas Sunset Advisory Commission in support of the Texas Credit Union Commission. The Credit Union Commission, up for sunset review in 2009, "is one of the last remaining independent state regulators and the dual chartering system is often cited as the reason for the strength of credit unions in Texas," said the league.
Gill said the league is indeed urging more Texas CUs, both state and federal, to contact members of the sunset commission which is scheduled to hold public hearings in September on retaining various state agencies including the CU regulator.
"The Sunset Commission needs to know the level of support the Credit Union Department has around the state," said Gill.
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.
