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WASHINGTON — While Treasury Secretary Henry Paulson might find the British, single financial regulator model appealing, industry figures are not on the same page.

The current financial services regulatory system is not perfect but it is working was the theme of the comments from credit union-related entities on Treasury’s request for comments regarding regulatory streamlining. “Most would agree that if the regulatory system was created by design, the current system would not have been deliberately engineered; however, the current system has provided competition, innovation and diversity,” NASCUS Executive Vice President of Government Relations Sandra Troutman acknowledged in her comment letter.

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