CUNA announced today it is forming a 12-member "Next Steps Corporate Credit Union Working Group" it hopes will provide an organizational framework so credit unions can maintain access to traditional corporate services at a reasonable cost.
President Dan Mica will announce members of the group later this week, said spokesman Pat Keefe.
Even though the NCUA isn't likely to announce final corporate regulations or a plan to separate toxic assets from corporates until June, Senior Vice President Mary Dunn said CUNA's member credit unions have made it clear they won't recapitalize until investment risk is separated from core services like payment and settlement.
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