AUSTIN, Texas — The Texas Credit Union Commission last month issued proposed regulations regarding private deposit insurance for state chartered credit unions.
The comment period runs through Dec. 3.
American Share Insurance President/CEO Dennis Adams said he is not sure whether his organization will be commenting yet or not. "We haven't had a chance to study it carefully. On first read, it seems to be acceptable to us," he said, adding he did not foresee any major problems with it.
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"There seems to be an interest and understanding" of private deposit insurance among Texas credit unions, according to Adams.
Federal credit unions must carry federal deposit insurance with the NCUSIF.
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