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News Now

CU System
Irish league calls for separate CU regulator
DUBLIN (2/3/10)--The president of the Irish League of Credit Unions called for the government to form an independent credit union regulator, saying the country's credit unions had serious concerns about new regulatory structures being proposed to deal with the banking crisis. Mark Bailey, president of the league, made the comments while speaking to the Joint Oireachtas Committee on Economic Regulatory Affairs (RTE Business Feb. 2). Bailey said credit unions are concerned the government will take a one-size-fits-all approach that could result in regulation of credit unions that would be excessive and disproportionate. He noted the current system of regulating credit unions has worked effectively so far. The Registry of Credit Unions operates within the Financial Regulator.


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