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Interagency Rule: What Does It Mean for Credit Unions?

Wall Street reform may be what the Dodd-Frank Act is intended to accomplish, but as usual, those financial institutions that followed the rules and operated with the best interests of their customers in mind end up shouldering a new burden because of a bunch of bad actors who didnt.

By Jane Upton | Updated on September 14, 2011
Jane Upton is a principal at Executive Compensation Solutions. Contact 626-914-2333 or [email protected]

Wall Street reform may be what the Dodd-Frank Act is intended to accomplish, but as usual, those financial institutions that followed the rules and operated with the best interests of their customers in mind end up shouldering a new burden because of a bunch of bad actors who didn’t.

The Office of the Comptroller of the Currency, the Federal  Reserve, the FDIC, the Office of Thrift Supervision , the SEC, the FHFA and the NCUA have jointly prescribed an interagency rule to implement Section 956 of Dodd-Frank.

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