PRESS RELEASE
June 16, 2008
Chicago, IL — NASCUS Chairman George Reynolds (GA) continues to travel the country for the NASCUS state regulator regional meeting series that stopped in Chicago, Illinois last week.
Chairman Reynolds and NASCUS management met with state regulators from Illinois, Kansas, Michigan and Wisconsin on June 11 to discuss the examination, supervision, regulatory and legislative issues affecting state agencies. The Illinois Department of Financial Institutions co-hosted the meeting at its agency offices.
“State regulators continue to benefit from the active exchange of information, emerging trends and best practices during NASCUS’ regional regulator meetings,” said Reynolds. “It is especially important to bolster the regulator-to-regulator communication in this economically challenging time to ensure regulators are taking proactive and appropriate actions to help credit unions mitigate their risks and maintain operations in a safe and sound manner.”
The meeting agenda covered a number of diverse issues including credit quality, compliance and governance issues, unrelated business income tax (UBIT), proposed regulations, examiner training and national housing legislation. Regulators also emphasized the importance on ongoing training for credit union directors at the meeting.
NASCUS has held its annual regional regulator meeting series for four years. In addition to the Chicago meeting, regulators gathered in Boston, Massachusetts and San Francisco, California earlier this year. The 2008 series will wrap up in Nashville, Tennessee on September 10. State regulators will meet again at the NASCUS State System Summit in Seattle Washington, August 21-23, 2008.
Information
Contact:
Kate Hartig, Director, Communications and Public Affairs,
(703) 528-0669 or kate@nascus.org
The
NASCUS mission is to enhance state credit union
supervision and advocate a safe and sound state
credit union system.
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