ARLINGTON, Va. — NASCUS and the Conference of State Bank Supervisors are both applauding the credit union related-provision added to the Regulatory Relief Act of 2006 that allows for full voting rights to the chairman of the State Liaison Committee of the Federal Financial Institutions Examination Council.
"There are so few credit union-related provisions in the Reg Relief bill. It's important that this is one of them," said NASCUS President/CEO Mary Martha Fortney.
With NASCUS and CSBS made up of many of the same regulatory members–many state regulators are responsible for the regulation of their state-chartered credit unions and state banks–Fortney said the addition of the provision "is something the two groups have been working on for some time. It's important that we now have a vote on matters that come before the Federal Financial Institutions Examination Council."
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