Association Hosts Credit Union Roundtable with Maryland Commissioner of Financial Regulation

Credit unions with Maryland charters had the opportunity to engage in an open dialogue on Thursday with Maryland’s Commissioner of Financial Regulation Tony Salazar.

2019 Salazar RT

Among the topics discussed to consider: providing credit unions with more notice prior to a state examination, creating parity with the Federal Credit Union Act on member business lending and real estate lending, and increasing efforts to combat adult financial exploitation.

Stating that “Our goal is to make it easier for you to do your jobs,” Commissioner Salazar expressed a willingness to reevaluate existing rules that may be outdated and burdensome to credit unions, as long as safety and soundness is maintained.

The MD|DC Credit Union Association will work with credit unions to develop a list of rules for review by the Maryland Department of Labor, Licensing and Regulation.