WASHINGTON, DC (February 28, 2017) — National Association of Federally-Insured Credit Unions (NAFCU) President and CEO Dan Berger applauded the National Credit Union Administration (NCUA) Acting Board Chairman J. Mark McWatters’ plan for “thoughtful loosening” of regulations while preserving the safety and soundness of the credit union system.
“Regulatory relief, prudent management of the operating budget, and rebates from the Temporary Corporate Credit Union Stabilization Fund are at the top of NAFCU’s advocacy agenda for 2017,” said Berger. “NAFCU and our members applaud Chairman McWatters’ commitment to addressing each of these issues, and we look forward to working with him in executing his strategy.”
In the plan, McWatters outlined the possibility of the agency closing the Temporary Corporate Credit Union Stabilization Fund in 2017—four years before the currently scheduled closing—and moving money into the National Credit Union Share Insurance Fund in order to avoid charging a premium.
The National Association of Federally-Insured Credit Unions is the only national trade association focusing exclusively on federal issues affecting the nation’s federally-insured credit unions. NAFCU membership is direct and provides credit unions with the best in federal advocacy, education and compliance assistance. For more information on NAFCU, go to www.nafcu.org or @NAFCU on Twitter.
