WASHINGTON — Mark McWatters, President Obama's choice to serve on the NCUA Board, told a Congressional committee Thursday regulators need to consider the potential unintended consequences of their decisions.
He also promised to bring a transparent regulatory perspective to the position.
"Lawyers and regulators need to take a step back and apply the law with impartiality and look at the larger picture. They need to think both tactically and strategically, considering not just the desired outcome, but potential unintended consequences," McWatters said in his prepared remarks for his Senate Banking Committee confirmation hearing.
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