WHY SHOULD PWG EXCLUDE NCUA?
As stated in the report, Treasury is seeking to have the PWG expanded to include the federal banking regulators but not the National Credit Union Administration. Not only would this disadvantage NCUA and credit unions, it would undermine the goals of the expansion of the PWG, which include facilitating policy coordination and communications to promote consumer protection and enhance financial market interiority. Again, this recommendation clearly reflects a bias against and disregard for the credit union system. We urge Treasury to pursue a fair and more balanced approach and to work with the White House to include NCUA on the PWG. In closing, given the Treasurys lack of understanding about credit unions, it is no surprise that the Blueprint would set in motion a plan that will result in their demise. In the process, consumers would not be protected and an important alternative to for-profit banks would be eliminated from the financial marketplace in the name of efficiency. In the mean
