NCUA Board Vice Chairman Rick Metsger told attendees at the Education Credit Union Council’s Annual Conference Monday the federal charter has been devalued and it needs to be addressed by the agency.

“While the regulator is bound by statute on many charter issues, other issues can be changed because they are a product of agency interpretation, not statutory mandate.  Change is particularly appropriate when those interpretations are dated and no longer represent the current financial marketplace,” Metsger told conference attendees.

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