Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Washington
First Financial Stability Oversight Council meeting held
WASHINGTON (10/4/10)—The newly created Financial Stability Oversight Council (FSOC), which provides a forum for discussion between various regulatory agencies, held its first meeting on Friday. The Council, which is comprised of National Credit Union Administration (NCUA) Chairman Debbie Matz, Treasury Secretary and FSOC Chairman Tim Geithner, Federal Reserve Chairman Ben Bernanke, Acting Comptroller of the Currency John Walsh, Securities and Exchange Commission Chairman Mary Schapiro, and Federal Deposit Insurance Corp. Chairman Sheila Bair, and representatives from the Commodity Futures Trading Commission and the Federal Housing Finance Agency, will also oversee the resolution of troubled financial institutions. Matz in a statement released on Friday said that the FSOC would also “strengthen the early warning systems of independent regulators of insured institutions.” “The sharing of information about the health and practices of uninsured financial service providers, in and of itself, will provide a vital tool in our ability to protect tens of millions of insured depositors,” she added. The FSOC during the meeting also approved its Bylaws, its Transparency Policy, an Advance Notice of Proposed Rulemaking on designating nonbank financial companies for heightened supervision, a request for information regarding the Council's "Volcker Rule" study and recommendations, and an Integrated Implementation Roadmap for both the FSOC and its independent member agencies, according to a release. For releases from the FSOC and the NCUA, use the resource links.
Other Resources

RSS print
News Now LiveWire
St. Louis treasurer taps #creditunion to serve unbanked #NewsNow http://t.co/lWtcezJOej
22 hours ago
.@CUNAMutualGroup has committed $35K to @trustdotcoop over the next year to suppor the future of #creditunions.
23 hours ago
.@madison_mag gets the cooperative scoop from @SummitDoMore's @kimsponem http://t.co/RxSCeSegie
23 hours ago
.@VantageWestCU emeritus chairman Whittaker inducted into @DCUC_HQ Hall of Fame http://t.co/dpeP4ME49U
1 Day ago
Australian newspaper covers Gen Y tips from @ServusCU at @WOCCU conference http://t.co/xqmLfZVwaI
1 Day ago