WASHINGTON — The furor over the Treasury's Blueprint proposal for financial reorganization highlights a glaring fact about credit union charters: no one wants one, according Washington CU attorney Bruce Jolly.
"It's a lot more difficult to argue for a separate agency when no one is beating your door to come in," said Jolly, a former NCUA counsel commenting on Treasury Secretary Henry Paulson's single charter plan.
Jolly, currently a partner at Venable LLC, said he found irony in the discussion about future credit union charters and a single regulatory agency while over the last year "there were 100 bank charters granted but only a handful of credit union charters."
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