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Inside Washington (05/01/2008)
* WASHINGTON (5/2/08)--The National Association of State Credit Union Supervisors (NASCUS) and state regulators worry that a proposal by the National Credit Union Administration could damage the state-chartered credit union system. NASCUS and 28 agencies signed a comment letter to NCUA emphasizing the proper role of state authority in regards to an NCUA Advanced Notice of Public Rulemaking (ANPR). The ANPR seeks comment on whether the NCUA should set rules on mergers, conversions and termination of insurance for credit unions that are federally insured. There is no authority for application of the ANPR to state-chartered credit unions and the proposal could damage state law and the dual chartering system, the letter said. Some state issues are “better left to state laws and regulation,” the agencies said ...


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