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CU System
Regulators from four states meet with NASCUS
CHICAGO (6/17/08)--“It’s important to bolster regulator-to-regulator communication to ensure regulators are taking appropriate actions to help credit unions mitigate their risks and maintain operations in a safe and sound manner,” National Association of State Credit Union Supervisors (NASCUS) Chairman George Reynolds told state regulators at a meeting last week. Reynolds, senior deputy commissioner of the Georgia State Department of Banking and Finance, met with regulators from Illinois, Kansas, Michigan and Wisconsin June 11 to discuss legislative issues affecting state agencies. The Illinois Department of Financial Institutions co-hosted the meeting at its agency offices. The meeting covered credit quality, compliance and governance issues, unrelated business income tax (UBIT), proposed regulations, examiner training and national housing legislation. Ongoing training for credit union directors also was emphasized by regulators. NASCUS has held its annual regulator meeting series for four years. Regulators also met in Boston and San Francisco this year. The series will finish in Nashville, Tenn., Sept. 10. The regulators also plan to meet at the NASCUS State System Summit in Seattle Aug. 21.
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