Ito comments headline Banker story on ‘year of reg relief’
Dec. 15, 2015 -- Quotes from NASCUS President and CEO Lucy Ito headline a story in today’s (Dec. 15) issue of American Banker newspaper focusing on NCUA’s self-described “year of regulatory relief”."
“’Whopper’ of a Year Irks Many Bankers,” stated the headline in a lead story in today’s edition of the American Banker (a trade publication), quoting Ito’s view of the agency’s 2015 actions.
“This year (has been) a whopper … in terms of activity coming out of NCUA," Ito said in an interview.
Among other things, the story notes the NASCUS view of NCUA’s recent proposal on its field of membership rules and member business lending. The story states that Ito said “an overhaul of field-of-membership regulations was ‘long overdue,’ adding that her group has ‘been encouraging them [to act] for a long time.’ She characterized the proposed member business loans changes as ‘rather progressive.’"
In response to criticisms by bank trade associations of NCUA’s actions, Ito offered some insights as to the actions regulators must take.
“Ito said she could understand why bankers are upset,” the story states. “’I know there are other interest groups out there,’ Ito said. ‘But NCUA and state regulators need to focus on what benefits consumers.’"