Tuesday, October 18, 2011

NCUA "Regulatory Modernization".... Pinocchioan???

"President Obama, in issuing Executive Order 13579, ordered independent regulatory agencies to periodically review existing significant regulations for those that may be "outmoded, ineffective, insufficient, or excessively burdensome, and modify, streamline, expand, or repeal them"  accordingly.  Regulatory modernization is one step NCUA is taking to comply.
(This Executive Order is calling for more regulation?)
Do take a minute and read it for yourself!
  This Executive Order recognizes that better regulation is not always synonymous with less regulation." 

"Better regulation, which provides for flexibility and empowerment within a framework that manages risk and maximizes safety and soundness, can lead to growth and improved service."               
(How does more flexible regulation improve an inflexible attitude?)

"NCUA is committed to balance."
(Not exactly self-evident of late.)

"You run credit unions, NCUA does not."
(That word hasn't gotten around at NCUA.)

"Our analysis suggests that - under realistic assumptions -..."
(Who in fact needs "to get real"?)

Does what is said match with what is being done?  Or does the NCUA appear a bit Pinnochioan?  Who...

*** Quotes compliments of "The NCUA Report", September 2011

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