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<p>WASHINGTON-CUNA and NAFCU represented credit union interests in a meeting with Treasury Assistant Secretary for Financial Institutions Sheila Bair on May 7 covering responses to crisis situations as it relates to the financial services industry. Representatives from all corners of the financial services sector attended the meeting. Discussion centered on preventing physical and cyber attacks, providing accurate and timely information to financial institutions in case of an attempted attack, and coordinating procedures for dealing with various levels of crisis. Much of the details discussed at the meeting are not yet meant to be public, according to credit union attendees. “Basically, it was high level discussions trying to add possible mechanisms to get that information out,” NAFCU Director of Regulatory Affairs Gwen Baker said. CUNA Associate General Counsel Mary Dunn commended the Treasury Department’s approach saying they “want to develop a system within the Administration’s framework that isn’t going to be burdensome for anybody.” Despite the presence of credit union and banking groups in one room, there was “a lot of commonality,” she added. Baker said the group planned to meet in the future and possibly hold regular meetings. No date has been set for the next meeting. NAFCU Senior Vice President and General Counsel Bill Donovan also attended the meeting.</p>

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