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Letter: Matz Is Dead Wrong on Dodd-Frank

CUA Board Chairman Debbie Matz has a right to her opinion about the Dodd-Frank Act. No matter how wrong. And as her July 27 Guest Opinion so clearly demonstrated, on the topic of the Dodd-Frank Act, Matz is really, really, really wrong.

By Marvin C. Umholtz | Updated on July 31, 2011

NCUA Board Chairman Debbie Matz has a right to her opinion about the Dodd-Frank Act. No matter how wrong. And as her July 27 Guest Opinion so clearly demonstrated, on the topic of the Dodd-Frank Act, Matz is really, really, really wrong. Her remarks provided ample evidence that even well-intentioned people looking at the same set of facts from different world views can come to very different conclusions. The Dodd-Frank Act is an ideologically driven bane, not a financial system safety and soundness boon.

Making her contribution to the ongoing partisan spin-doctoring that has dogged Dodd-Frank since its inception, Democratic presidential appointee Matz toed the party line in her hyperbolic praise of the interventionist law. The chairman delivered unwelcomed rhetorical gasoline that further inflamed the fundamental political disagreement, including disagreement within the credit union industry, over the appropriateness of the act’s misguided mandates and regulatory overkill.

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