NASCUS Resumed Regional Regulator Meetings Series for 2011 in Atlanta

Jan. 26, 2011 — Fourteen state regulators representing 10 states joined NASCUS Chairman and Vermont state regulator Tom Candon for a regional regulator meeting on January 24 at the Federal Reserve Bank of Atlanta.

NASCUS is continuing the regional regulator meetings into 2011, a series which began in 2005. The small group meetings provide a valuable opportunity for discussion of NASCUS initiatives, as well as regional regulator concerns and national policy issues.

The regulators began the meeting with a roundtable discussion of trends and issues in their states such as small credit union consolidation and various budget issues associated with economic recovery efforts. Following the roundtable, NASCUS management and attendees exchanged information on current pressing regulatory and legislative topics including the regulation of corporate credit unions, examination schedules, the state/NCUA relationship, supplemental capital, interstate branching and more.

NASCUS President and CEO Mary Martha Fortney briefed the group on the work of the Bureau of Consumer Financial Protection. She noted that NASCUS is working with the Bureau on a draft memorandum of understanding to establish and enhance the working relationship and to preserve the confidential nature of the information shared between the Bureau and state credit union regulatory agencies.

NASCUS regulators will meet next for the NASCUS Quarterly State Regulators Conference Call on February 9 and at the NASCUS/NCUA National Regulators Meeting scheduled for March 20-22, 2011 in Atlanta.