NCUA and Trades Meet Obama Transition Officials
WASHINGTON -- Officials of NCUA, CUNA and NAFCU have met with officials of President-Elect Barack Obama's NCUA transition team to discuss regulatory and legislative issues of importance to credit unions.
NCUA Chairman Michael E. Fryzel and other two board members each had separate meetings with the team last month but issued no statement following the session.
Officials of CUNA and NAFCU said that at their meetings, which were held yesterday, they discussed subjects such as their desire to keep NCUA a separate agency, the need for additional capital for credit unions and the desire to increase the amount of money credit unions can lend through member business loans.
"They raised a number of questions to which we responded," CUNA President and CEO Dan Mica said in a statement. "We also provided several background materials on facts about the credit union system and issues we are facing."
NAFCU President and CEO Fred Becker said the meeting was "a welcome opportunity to offer our perspective on the current financial situation, the critical role credit unions play in our financial infrastructure and, ultimately, in the country's economic recovery.''
The transition team's members on credit unions are: Former NCUA Board Member Debbie Matz, Gregory Rosston, deputy director of the Stanford Institute of Economic Policy Research, the group's leader, and Scott Wallsten, an economics professor at Stanford University.
Among the NCUA-related issues facing the new administration are whether to keep Fryzel as chairman and whom to nominate to succeed NCUA Board Vice Chairman Rodney Hood when his term expires in April.