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NCUA Supports Financial Reform Legislation

Despite the cap on debit card interchange it contains, a June 29 letter to Rep. Barney Frank (D. Mass) from NCUA Board Chairman Debbie Matz made it clear where the agency comes down on the financial reform package.

By David Morrison | Updated on June 29, 2010

Despite the cap on debit card interchange it contains, a June 29 letter to Rep. Barney Frank (D. Mass) from NCUA Board Chairman Debbie Matz made it clear where the agency comes down on the financial reform package.

Matz wrote the Chairman of the House Committee on Financial Services to praise the bill’s addition of parity between banks and credit unions on insurance on interest bearing business accounts. She also praised the bill for the Financial Stability Oversight Council, the group of financial regulators that is supposed to check for systemic risk, and for the Bureau of Consumer Financial Protection which will be charged with regulating consumer financial products.

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