Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

Washington
Regulatory change blueprint to be released later
NEW YORK (02/08/08)—The Bush Administration expects to release during this year's first quarter its blueprint to improve the U.S. financial regulatory structure, according Under Secretary for Domestic Finance Robert K. Steel. He spoke yesterday in New York City. The report will follow the agency's request for comments in October on the restructuring of the regulation of the financial services sector. The Credit Union National Association (CUNA) filed a comment letter urging no changes in National Credit Union Administration’s (NCUA) structure. The blueprint will propose some broad ideas for "optimal regulatory structure to match the ever changing nature of the financial services industry," said Steel. This will be a "newly designed model" focusing on key aspects of regulating financial institutions; prudential regulation for safety and soundness; consumer and investor protection and overall market stability. "You should not be surprised to hear that this optimal structure will be different form our current structure," he said. The report will also recommend some less conceptual ideas that will serve as an "intermediate step" toward an improved structure of financial services, according to Steel. CUNA will provide an analysis as soon as the report is available, said CUNA Deputy General Counsel Mary Dunn.


RSS





print
News Now LiveWire
A recent report from @TransUnion says consumers born 1981 or later made up 27% of total auto-loan originations in 2014, up 16% from 2009.
7 hours ago
.@CUNA says new House bill is "further evidence" of lawmakers' interest in how @TheNCUA uses its funds from CUs. See News Now Monday.
1 day ago
.@MECreditUnions announces winner of @YoungFreeME #SoundOff contest. @Sassquatch_Band will play Old Port Festival in June @PDD_Downtown
3 hours ago
House Financial Services Com. to hold March 3 hearing to receive the semi-annual report of @CFPB Director Richard Cordray.
3 hours ago
Rep. Jeff Miller (R-Fla.) re-introduced bill to ease veterans' access to loans for #smallbusiness purposes from a #creditunion (HR 1133)
5 hours ago