By the way, don't think this is a complaint about "government regulation". N.C. has historically had strong and effective regulation. The concern is over "imported" weak, ineffective, and inconsistent practices. Growing preference for the FDIC - folks 'down here' want a strong federal insurer. A weak one costs a lot more....
Has there ever been any discussion on changing North Carolina state law to allow state-chartered Credit Union's to be privately insured? Dual charter, dual insurance.
Yes. But running well ahead of that option is 1)amending the FDIC Act to add credit unions as eligible for FDIC insurance - give folks a choice! 2) forcing the split off of the NCUSIF from the NCUA - called curing the conflict of interest potential that many believe brought the FSLIC down; and 3) a straight conversion to mutual/stock bank charter....
Personal favorite is "reform", but .... that requires someone to actually be willing to listen and change where beneficial.
5 comments:
Maybe North Carolina CU's should hire Eugene Scalia, at Gibson, Dunn & Crutcher? He's had some success fightng Government regulation.
Don't know; some other folks have suggested a "Sicilian solution"....
By the way, don't think this is a complaint about "government regulation". N.C. has historically had strong and effective regulation. The concern is over "imported" weak, ineffective, and inconsistent practices. Growing preference for the FDIC - folks 'down here' want a strong federal insurer. A weak one costs a lot more....
Has there ever been any discussion on changing North Carolina state law to allow state-chartered Credit Union's to be privately insured? Dual charter, dual insurance.
Yes. But running well ahead of that option is 1)amending the FDIC Act to add credit unions as eligible for FDIC insurance - give folks a choice! 2) forcing the split off of the NCUSIF from the NCUA - called curing the conflict of interest potential that many believe brought the FSLIC down; and 3) a straight conversion to mutual/stock bank charter....
Personal favorite is "reform", but .... that requires someone to actually be willing to listen and change where beneficial.
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