LONDON -
"I enjoyed the opportunity to explore the pros and cons of their regulatory philosophy and comparing it to our own. I plan to study their principles-based approach more closely; I believe that there are some real practical advantages that warrant further analysis," said Hood.
Hood also met with Dame Pauline Green, Chief Executive of Co-operatives UK and President of the International Co-operative Alliance (ICA) Europe, who outlined the British co-operative system's initiative to develop a unified Third Sector, representing non-profit and the volunteer sector of the British economy. Green also briefed Hood on a corporate governance project that it has developed in conjunction with the ABCUL. Her Majesty's Treasury has created an Office of the Third Sector to be responsive to the concerns of the co-operative sector. Representatives from that office met with Vice Chairman Hood to discuss an important issue of particular concern to both governments-service to the underserved. Hood noted after the meeting that "credit unions in the United States have more resources to reach out and offer a wider variety of products to the underserved due to larger institutions with broader income levels among their members"
