SEATTLE–In some of his first remarks since being named chairman of NCUA, Michael E. Fryzel placed a little more emphasis on safety and soundness-related themes than is usually heard from board members at the agency when speaking to credit unions.
Addressing NASCUS’ Summit here, Fryzel said his previous term as Illinois’ regulator of financial institutions and on the Governor’s Board of Credit Union Advisors have led to a personal philosophy that emphasizes “prudent, far-sighted regulatory oversight.
In addition, he said the emphasis during his tenure as NCUA chairman will be on maintaining strong regulatory control that aggressively protects the rights of consumers; providing common-sense rules that benefit both credit unions and the members they serve, and monitoring credit union to ensure consumers get a fair shake.
“These are common goals, and I ask you to take every practical step to ensure you devote adequate resources to the thorough, careful and comprehensive examination and supervision of credit unions,” Fryzel told the NASCUS meeting.
