NCUA shares the load with credit unions

Wednesday - 10/6/2010, 10:42am EDT

Debbie Matz, chairman, NCUA

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The new Wall Street reform law gives the National Credit Union Administration a permanent role to insure consumer credit union accounts up to $250,000. That role is similar to what the FDIC does for regular bank accounts. This isn't brand new for the NCUA. They've had the authority in the past, but it was never permanent: Congress always had to vote on it. Chairman Debbie Matz explains how the agency goes about insuring the accounts.