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NCUA Vice Chairman Hood Highlights Regulatory Flexibility Focus at Massachusetts Credit Union League’s CEO Roundtable
GuidanceNational Credit Union Administration (NCUA)General Information
National Credit Union Administration (NCUA) Vice Chairman Rodney E. Hood joined fifty credit union CEOs in Boston for a roundtable dialogue during which he outlined his regulatory focus for 2006.
"Regulatory flexibility will be a top priority of mine in 2006," said Vice Chairman Hood. He discussed the recent final rule empowering an additional 413 federal credit unions with RegFlex eligibility by allowing well-managed, well-capitalized credit unions with a qualifying net worth requirement of 7% rather than 9% for earned regulatory flexibility.
"This rule demonstrates the Board’s belief that the agency should not micro-manage, well-managed institutions," said Vice Chairman Hood. "This year, I will look for ways to reduce unnecessary regulatory burdens on credit unions."
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