ARLINGTON, Va. – NASCUS accepted an invitation from FederalReserve Board Gov. Susan Bles and met with her and several FederalReserve Board staff the week of Dec. 8 to educate them on stateregulator oversight of state-chartered credit unions. According toNASCUS, Gov. Bles and her staff were particularly interested in theregulatory oversight of privately insured credit unions. Theirdiscussions included the regulatory and examination oversight andsupervision of state-chartered credit unions by both their insurerand their state chartering authority. In explaining private shareinsurance, NASCUS acknowledged that private share insurance can bea divisive issue and that there's even a difference of opinion onthe subject among state regulators. NASCUS Acting President and CEOMary Martha Fortney described the meeting as “productive” and“encouraging” and noted that Gov. Bles expressed an interest inmeeting again with NASCUS to discuss credit union systemissues.

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