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Regarding the Editor’s Column in the May 29 issue, “Usage Fees Are Not a Strange Idea.” Sarah Snell Cooke’s support of the pay for play precedent in the NCUA’s recently proposed rule on derivatives misses the point. We strongly support and have continually advocated expanding credit unions’ investment powers to include limited derivatives authority. Such expanded powers are crucial to the present and future safety and soundness of our industry as it continues to evolve. We also believe it is imperative, as Board Member Fryzel has publicly stated, that the agency move forward with derivatives authority, as opposed to leaving it as a perpetual pilot program.

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