WASHINGTON -NCUA Chairman Michael E. Fryzel told a Senate panel today that credit unions are "unique and distinct institutions that require a unique and distinct regulator."

He said NCUA's work with state regulators has enabled the agency to "manage risk in an efficient manner" and its insurance fund should remain separate from other insurance funds.

Fryzel expressed support for creating a systemic risk regulator that would establish broad rules about safety and soundness while letting NCUA focus on credit unions.

He appeared before the Senate Banking Committee which is holding a series of hearing on regulatory restructuring.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
  • Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
NOT FOR REPRINT

© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.