ARLINGTON, Va. — In the prelude to the most recent crisis facing corporate credit unions, everybody messed up some.
That's the assessment of NCUA Executive Director David Marquis. He noted in remarks at the Metropolitan Area Credit Union Management Association that corporate credit unions and trade associations pushed for less regulation. Yet he also speculated that while his agency might not have pushed hard enough for stronger regulations, if it had done so it might have not succeeded.
"Could we have pushed harder on safety and soundness? Perhaps. I'm not sure we would have won that political battle in that environment," he said.
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