CUs Must Have Parity with Banks in Deposit Reform Legislation
Credit unions must receive parity with banks in any deposit reform legislation, CUNA wrote to House Financial Services and Senate Banking, Housing, and Urban Affairs Committee leadership Monday. Congress and the Federal Reserve have indicated interest in deposit insurance reform in the wake of recent high-profile bank collapses.
"Should Congress decide to change the insurance limits for banks, credit unions need parity," noted League President/CEO Carrie Hunt. "We hope this issue is studied carefully and Congress does not create a broad, potentially expensive policy that is designed to protect risky investments and not consumers.”
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