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house Bill H.R. 299

Should Privately Insured Credit Unions get the Same Treatment as Federally Insured ones?

Argument in favor

This bill would help members of private credit unions gain greater access to credit in a tight market. Plus, state banking regulators would ensure that privately insured credit unions have adequate risk protections in place.

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04/13/2015
do you believe in equality? just because they are private they don't get the same treatment as federal?
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John's Opinion
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06/17/2015
If they comply with federal regulations, yes. If not, no.
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billwdk9's Opinion
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04/15/2015
Credit Unions are essentially banks and should therefore receive the same treatment as federally insured banks.
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Argument opposed

Risk concerns: privately insured credit unions are not subject to federal examinations. Relying on state regulators to provide oversight seems risky, and the number of credit unions that would be affected is small.

operaman's Opinion
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11/29/2016
If I want my funds protected, I'll take it to a FDIC credit union. WHATS next, Federal regulations for toilet paper softness? The Feds needs to nose out of state business.
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Timothy's Opinion
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12/10/2016
It doesn't seem smart for the Federal government to afford privately-insured CU's the same advantages as federally-insured CU's without the oversight. That's what makes FDIC regulated institutions so advantageous: they pass the muster of federal regulations. I wouldn't be sad to see it passed, but I think privately-insured CU's should be held to the same standards.
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Pat's Opinion
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04/13/2015
Need to reduce government interference in all aspects
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