NCUA’s Matz Sets ‘Regulatory Default Switch to Yes’

The National Credit Union Administration is primed to answer “yes” to credit union industry requests, according to agency chairman Debbie Matz, who was speaking at a credit union lobbying event today.

“A top priority became making it easier for you to do business,” she said. “Wherever possible, we moved the regulatory default switch to ‘yes’ to make it easier for you to do business.” Matz described the efforts NCUA has undertaken at credit unions’ requests, including removing the fixed assets limit, removing member business lending limits, expanding credit union fields of membership and expanding the low-income credit union designation.

“We will keep making it easier for you to do business,” Matz added. “Let me assure you: NCUA will keep listening and making responsible changes that will benefit you.” ABA has vigorously opposed NCUA efforts to cheerlead for the credit union industry and to circumvent and undermine limitations imposed by Congress on the tax-exempt CU sector.