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Berger thanks Mnuchin for Treasury report; offers additional insights

first_imgNAFCU President and CEO Dan Berger thanked Treasury Secretary Steven Mnuchin in a letter Monday for issuing his recent report containing many NAFCU-backed regulatory relief provisions and outlined some these measures and their importance to the credit union industry.Last month, the Treasury Department released a report that is filled with credit union-specific and NAFCU-requested recommendations aimed at helping the industry better serve its members and communities. Citing NAFCU’s Annual Report on Credit Unions multiple times, the Treasury report recommends a review of credit union capital requirements and the “current expected credit loss” accounting standard, among other things.“These reforms, if enacted, will make it easier for credit unions to focus on the needs of American consumers,” Berger noted.“NAFCU welcomes the Report’s dedicated focus on the unique nature of this country’s credit unions,” Berger wrote. “This nuanced structure is sometimes difficult for federal agencies to fully comprehend, but this Report demonstrates a sophisticated understanding of the credit union difference, along with the benefits members enjoy and the overly broad regulatory environment they must endure. 9SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr continue reading »last_img

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