How new NASCUS chief plans to strengthen state credit union system
By Ken McCarthy, American Banker
January 12, 2022 — The most important issue facing the National Association of State Credit Union Supervisors this year will be the relationship between state-chartered and federally-chartered credit unions, according to Brian Knight, the new president and chief executive of the National Association of State Credit Union Supervisors.
Knight, who took the helm last month after Lucy Ito retired from the role, said his priority as CEO of the trade group is ensuring the state charter remains competitive with not only the federal charter, but other depository charters and non-depository entities such as fintechs.
“If we restore a healthy dual-chartering system, the framework between state and federal credit unions will balance. All credit unions benefit from the healthy competition between charters to innovate and enhance the value of the charter,” Knight said.
To this end, Knight will advocate for regulation and supervision that enforces safety and soundness while also recognizing technological advancements in the financial services ecosystem, he said.
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