Treasury Secretary Inquisitive about CUs, NAFCU Says

WASHINGTON-Top officials from NAFCU met with Treasury Secretary John Snow earlier this month for the first time since he was installed last winter. NAFCU Director of Regulatory Affairs Gwen Baker, who attended the meeting, said that Snow was "very interested in what we had to say" and the meeting "was a good interchange." NAFCU President and CEO Fred Becker added that he asked a lot of questions about credit unions in the half-hour meeting. "We gave him essentially six or seven slides that talked about what was going on in the community and I didn't get past the first one before I had 10 questions," Becker commented afterward. Also attending the meeting from NAFCU was Senior Vice President and General Counsel Bill Donovan. Treasury Assistant Secretary for Financial Institutions Wayne Abernathy and the new Deputy Assistant Secretary for Public Liaison, Becky Relic, also sat in on the meeting. The group discussed the regulatory relief legislation, privacy, financial literacy, and credit union conversions from federal to state and vice versa.