CUNA President/CEO Dan Mica wrote President Obama yesterday toexpress the group's appreciation for keeping the NCUA as a separateagency in the administration's regulatory restructuring plan.
He wrote that keeping "NCUA as an independent, yet highlycompetent agency and avoiding a consolidated regulatory scheme thatwould supervise for-profit banks and not-for-profit credit unionsin a similar manner is one of the most significant objectives ofthe credit union system."
Mica also said that the association is "carefully reviewing" theproposal for a new agency to regulate financial service products.He expressed optimism that they can find ways for the new agency to"simplify regulatory requirements that interfere with creditunions' capabilities to serve their members."
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