DUBLIN, Ohio-American Share Insurance and others have set up ameeting in Indiana to review privately insured credit unions'disclosure requirements under the Federal Deposit InsuranceCorporation Improvement Act of 1991. ASI, the Indiana Credit UnionLeague and the Indiana Department of Financial Institutions havescheduled a meeting for Nov. 3, 2003 at 10am to go over whatdisclosures are required in privately insured credit unions'advertising, which should take a couple of hours, ASI VicePresident of Marketing Nick Damopoulos explained. Indianarepresents 9% (21) of ASI-insured credit unions. “This is somethingthat we're doing with all of our privately insured credit unions,”he said. An informational session is tentatively scheduled in Ohiofor Nov. 12, Damopoulos said. Interested credit unions can contactthe league at (800) 285-5300. The educational sessions on the12-year old law stemmed from a General Accounting Office studyreleased in August that revealed that 21 of 57 privately insuredcredit unions (37%) in Alabama, California, Illinois, Indiana, andOhio did not have required notices posted. When FDICIA was passed,Congress charged the Federal Trade Commission with enforcing thelaw, but did not provide funding. The agency had successfullyargued that they did not have the manpower or expertise to handleit, arguments that they repeated in the recent GAO study. However,GAO still reasoned that the FTC would be the best regulator toenforce the law. In addition to the five states in the study,Maryland, Nevada, and Idaho also have privately insured creditunions. While private insurance is authorized in Washington State,Montana, New Mexico, Oklahoma, Louisiana, Pennsylvania, New Jersey,New Hampshire, and Colorado, there are no privately insured creditunions in those states.