Credit union trade groups are in agreement when it comes to the NCUA's derivatives proposal. Unfortunately, the responses aren't pretty.
"There are so many costly restrictions that credit unions that otherwise should be eligible to invest in derivatives won't be able to do so," said Mary Dunn, CUNA senior vice president and deputy general counsel. "The proposal's goal is laudatory and commendable, but the specifics of it will work to defeat its purpose."
Dunn's July 29 letter endorsed an independent assessment by ALM First, a Dallas-based financial consulting firm, which exposes serious flaws in the NCUA's financial analysis.
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.
