Monday, February 26, 2018

McWatters Cites Accomplishments and Promises to Work Cooperatively with CUs

In a speech on February 26 at the Credit Union National Association's Government Affairs Conference, National Credit Union Administration (NCUA) Chairman McWatters highlighted the agencies accomplishments and promised continuing cooperation between NCUA and credit union stakeholders.

Chairman Mcwatters promised the attendees of continued inclusion, accountability, and transparency in the agency's decision-making.

He further reassured the audience that "[w]hile we may agree to disagree on certain issues, please understand your voices are heard."

Chairman McWatters commented that credit unions and community banks could work together in good faith to address common challenges facing Main Street financial institutions.

Accomplishments over the last year include closing the Temporary Corporate Credit Union Stabilization Fund four years early, payment of an equity distribution of $736 million to credit unions, and the avoidance of a premium assessment of $1.3 million. He also pointed out the restructuring efforts at the agency.

However, the speech did not break any new ground on forthcoming regulatory initiatives at NCUA.

Read the speech.

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