WASHINGTON – CUNA and NAFCU today redoubled their efforts to get the Bush administration to reverse its decision not to buy troubled assets.
CUNA President Dan Mica wrote Treasury Secretary Henry Paulson and requested that Paulson either implement a program to buy bad mortgages or work with NCUA to establish such a mechanism either self funded through the credit union system or through the National Credit Union Share Insurance Fund.
Mica also asked Paulson to set aside funds that would be available to buy credit union assets or make capital infusions, should the need arise.
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