Presidential Bill Signing

July 21, 2010, Alexandria, Va. — National Credit Union Administration Chairman Debbie Matz today joined a host of Congressional and Administration leaders as President Barack Obama signed the “Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010” into law. The ceremony, held at the Ronald Reagan Building in Washington, DC, marked the end of a year-long legislative effort to respond to the crisis that affected the U.S. economy and destabilized the financial and housing markets.
“President Obama and Chairmen Dodd and Frank all deserve particular credit for this achievement,” stated Chairman Matz. “Given the complexity and scope of the task and the volatile financial issues at stake, this new law is an accomplishment in which all Americans can take pride.” For consumers and for the credit union industry, the reform affords important protections and enhancements that will lead to a stronger and safer financial landscape. I am grateful to the President for acknowledging NCUA’s role in this historic process, and for his vision and leadership in making real reform possible.”
The National Credit Union Administration is the independent federal agency that regulates, charters and supervises federal credit unions. NCUA, with the backing of the full faith and credit of the U.S. government, operates and manages the National Credit Union Share Insurance Fund, insuring the deposits of more than 90 million account holders in all federal credit unions and the majority of state-chartered credit unions. NCUA is funded by credit unions, not tax dollars.

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