WASHINGTON – Proposed rules that better regulate risk and limit investment authority for corporate communications and clearer rules about chartering are the top initial priorities during the first months of her tenure, NCUA Chairman Debbie Matz said today.
In her first speech since taking over the job last month, she told attendees at NAFCU's Congressional Caucus that the new proposed corporate credit union rules, which will likely be put out for comment later this year, will address some of the concentration of risk issues that weren't dealt with in the 2002 regulations. Matz voted against the risk issues when she was a board member.
She recalled that when she was told last year about the possibility that U.S. Central and Western Corporate Federal Credit Unions might have to be placed into conservatorship she saw the situation as "shocking, sad and terribly scary." She went on to praise NAFCU's work in conjunction with the NCUA to find a solution.
Recommended For You
Matz also said the board would work on proposed regulations to revise the regulations for conversions to a community charter, because the current system is too complicated, extensive and time consuming.
"My intent is to develop objective and easy to apply criteria to replace the current burdensome practice of requiring an applicant to submit a narrative document with supporting material," she said.
© 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.
