BOSTON – Incoming NASCUS Chair Thomas Candon said today that seeing to it "that the state credit union system alter efforts to revamp the regulatory structure" will be a top priority of his tenure.
Congress is debating various proposals and NASCUS is working to ensure that the dual chartering system stays as is and state regulators don't lose their authority on consumer protection matters.
Candon, the number two official in the Vermont department that regulates financial services, also promised to continue the efforts of his predecessor George Reynolds on such projects as opposing the unrelated business income tax, expanding agreements allowing interstate banking, and coming up with a proposal for allowing credit unions to attain supplemental capital.
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Candon made his remarks at a luncheon at NASCUS' State System Summit honoring him and Parker Cann, the incoming chair of NASCUS' Credit Union Advisory Council.
Cann, the senior vice president and general counsel of Boeing Employees Credit Union, said a top NASCUS goal is to keep state regulators on the front lines of consumer protection.
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