Fed reps weigh in with NAFCU Reg Committee
Aug. 15, 2013 – The NAFCU Regulatory Committee heard from two Federal Reserve system payments experts during the panel’s teleconference this week on regulatory developments affecting NAFCU members.
The Federal Reserve Bank of Chicago’s Shonda Clay, vice president of customer relations, and Connie Theien, associate vice president of industry relations, talked to committee members and NAFCU staff, including Senior Vice President of Government Affairs and General Counsel Carrie Hunt, about the U.S. payment system and NAFCU members’ role in that system.
The Fed representatives also sought input from NAFCU on payment security, efficiency, standards, joint industry forums and information sharing.
NAFCU works with the Fed throughout the year to ensure credit unions’ needs and concerns are addressed in all Fed actions affecting access to the payments system and other financial industry services offered by the Fed.