The suggestion in your Editor's Column (CU Times, July 25) that a Republican Administration could mean a 180-degree turn in credit union regulation is unfortunately partisan.
Regardless of one's political affiliation, NCUA Board members have a responsibility to protect the National Credit Union Share Insurance Fund from losses. That's why the NCUA Board unanimously approved carefully tailored rules to improve accountability at corporate credit unions and manage interest rate risks. It's the same reason we voted unanimously for proposals to increase transparency in CUSO reporting and mitigate loan participation risks.
We cannot forget the many problems credit unions endured as a result of the financial crisis of 2007-08. Deregulation and lax oversight in the years leading up to the crisis were root causes of those problems. We cannot repeat the same mistakes.
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