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McWatters: Moratorium Coming on New Regs
Friday, April 8, 2016 6:45 AM

During a speech at NACUSO's annual conference, NCUA Board Member Mark McWatters said it's time for the agency to slow down on new regulations and address existing issues.

McWatters said the dynamic of a two-person board changes the flow of regulations as each board member would know in advance where each other stands on a particular issue.

He stressed the agency needs to regulate like it's 2016, not 2008. He will continue to advocate for advisory groups made up of credit unions that the agency can tap for input. Fraud and supplemental capital top his list where groups are needed. He does hope to see supplemental capital get out of stall mode and start progressing.

Other priorities for McWatters are for the agency to take a hard look at extending the exam cycle, preserving state's rights and due process for credit unions with exam disputes.

Source:  Cooperative Credit Union Association, 04/07/16