MONTREAL, Quebec–NCUA Chairman Debbie Matz’s remarks at NAFCU’s annual meeting here in which she outlined six different areas of focus for regulatory relief were met with “strong disapproval” from the American Bankers Association.
In her remarks Matz called 2015 the “year of regulatory relief,” and said she is “committed to counting supplemental capital in full.”
The ABA responded to Matz’s comments by expressing its “strong disapproval” and saying that NCUA’s “desire (is) to act as a cheerleader for the industry it is charged with supervising.”
“After the credit union industry lobby failed to get supplemental capital authorized by Congress, NCUA is now apparently prepared to do it anyway,” said ABA President Frank Keating in a statement.
Keating went on to call on Congress to remain on “full alert,” saying, “it’s obvious NCUA is happy to move credit unions away from their statutory mission to serve consumers of modest means, whether or not Congress has given the agency appropriate authority.”