Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Washington
First Financial Stability Oversight Council meeting held
WASHINGTON (10/4/10)—The newly created Financial Stability Oversight Council (FSOC), which provides a forum for discussion between various regulatory agencies, held its first meeting on Friday. The Council, which is comprised of National Credit Union Administration (NCUA) Chairman Debbie Matz, Treasury Secretary and FSOC Chairman Tim Geithner, Federal Reserve Chairman Ben Bernanke, Acting Comptroller of the Currency John Walsh, Securities and Exchange Commission Chairman Mary Schapiro, and Federal Deposit Insurance Corp. Chairman Sheila Bair, and representatives from the Commodity Futures Trading Commission and the Federal Housing Finance Agency, will also oversee the resolution of troubled financial institutions. Matz in a statement released on Friday said that the FSOC would also “strengthen the early warning systems of independent regulators of insured institutions.” “The sharing of information about the health and practices of uninsured financial service providers, in and of itself, will provide a vital tool in our ability to protect tens of millions of insured depositors,” she added. The FSOC during the meeting also approved its Bylaws, its Transparency Policy, an Advance Notice of Proposed Rulemaking on designating nonbank financial companies for heightened supervision, a request for information regarding the Council's "Volcker Rule" study and recommendations, and an Integrated Implementation Roadmap for both the FSOC and its independent member agencies, according to a release. For releases from the FSOC and the NCUA, use the resource links.
Other Resources

RSS print
News Now LiveWire
For the last 75 years, even in the most difficult of times, Mill Town #CU has been there for the community it serves. Read #NewsNow Tues.
26 minutes ago
The 1st vid shows how consumer can become victim and, advice to those who think they've been targeted. http://t.co/hr9VHpzEze
4 hours ago
.@TheNCUA has released two videos designed to raise awareness of elder financial abuse. http://t.co/iddSxr7H40
4 hours ago
Celebrate #100MM with @MDDCCUA1 at Orioles v Blue Jays tonight at Camden Yards
4 hours ago
The At Home In Lawrence mortgage program from @MetroCU is designed to help revitalize Lawrence, Mass.
5 hours ago