Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

Washington
Fryzel intends partnership approach with state regulators
ALEXANDRIA, Va. (8/22/08)—Michael Fryzel, the newly installed chairman of the National Credit Union Administration (NCUA), said he is committed to a partnership of shared ideas and opinions with state credit union regulators. Addressing the National Association of State Credit Union Supervisors 2008 Summit in Seattle, Wash., Fryzel emphasized his belief in strong regulatory oversight. He said he hopes to share with NASCUS a partnership of open dialogue on problems and solutions, and of working together to achieve “our common goal of a strong, vibrant credit union industry.” The NCUA chairman identified a rigorous safety and soundness standard as the central focus of both state and federal regulators when describing the primary principles that will guide his approach as head of the federal agency. His other essential elements, he said include:
* Maintaining strong regulatory control that aggressively protects the rights of consumers; * Providing common-sense rules that benefit both credit unions and the members they serve; and * Monitoring credit union to ensure consumers get a fair deal.
“These principles are central to the continued durability of the dual chartering concept,” Fryzel said. “The existence of strong, vital federal and state systems benefits all facets of the credit union industry. We have a commitment to those who placed us in these regulatory positions and to the consumers who depend on us, to be diligent stewards keeping their financial institutions safe, sound and well-functioning.”
Other Resources

RSS





print
News Now LiveWire
Construction spending drops in January, according to @CommerceGov http://t.co/W9J1mDyF8X #Market #NewsNow
11 hours ago
During Nat'l Consumer Protection Week, @TheNCUA reminds #CU members of agency resources re: rights as consumers. http://t.co/aYgW1HoDmF
12 hours ago
.@TransUnion: #millennials climbing into driver's seat with loans http://t.co/S4H9OIB3Av
13 hours ago
Breaking at #NewsNow: @CUNA backed bill introduced by @RepEdRoyce @GregoryMeeks would raise MBL cap. #CUSmallBiz http://t.co/ZDAb2UMoQz
14 hours ago
Loan growth at federally insured #creditunions in 2014 climbed to highest level since 2005, @TheNCUA reported today. Watch News Now Tues.
15 hours ago