CUNA represents CUs at White House meeting

WASHINGTON (5/11/09)--Credit Union National Association President/CEO Dan Mica Friday attended a White House meeting with a group of about 10 financial industry CEOs addressing financial regulatory reform issues.

Senior administration officials, including U.S. Treasury Secretary Timothy Geithner, met with key players in the financial services industry to address such topics as: additional oversight of nonreporting entities; enhanced disclosure and consumer protections; and a need for global communication and coordination.

Also participating in the meeting were senior White House official Pat Parkinson, who is working with Geithner on regulatory reform, and Diana Farrell, a deputy director of the administration's National Economic Council.

Mica said the meeting resulted in productive discussion and a good exchange of ideas. "We appreciated being invited, as part of a select group, as the representative of the credit union industry."

This was the second time this year CUNA was asked to the White House to deliver the credit union message on financial services topics. In March, Mica and CUNA Deputy General Counsel Mary Dunn, attending the unveiling of this administration's small business initiatives, told the president that credit unions want to help small businesses.

The Friday meeting is also a follow up to a meeting Mica had in December with the new administration's Transition Team, which at the time was reviewing all federal agencies, including the National Credit Union Administration. Based on what he heard at the Friday meeting on regulatory reform, Mica concluded, "The administration is serious about moving forward, moving thoughtfully, and moving quickly."

courtesy of cuna.org