“My decision should not be interpreted as a blanket condemnation of the concept of alternative deposit insurance. In fact, I am supportive of the notion that competition in deposit insurance could well be beneficial to credit unions and their members as well as the dual chartering system.” -Colorado Financial Services Commissioner David Paul on his decision that American Share Insurance is not “comparable” to federal insurance as required by state statute. “Even though state regulators are being interviewed and asked to fill out surveys from the GAO, they do not know the exact purpose and scope of this GAO study.” -NASCUS Chairman Jerrie Lattimore, administrator of the Credit Union Division of North Carolina during testimony before the Subcommittee on Financial Institutions and Consumer Credit on the proposed Reg Relief Act of 2003. She was asking for a copy of the letter describing the purpose of the study. “It was far less than most of the examinations we have had done of us.” -American Share Insurance President and CEO Dennis Adams on the thoroughness of Colorado Financial Services Commissioner David Paul’s study of ASI.

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