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NCUA Emphasizes Consumer Protection at Hill Event

February 15, 2008 Alexandria, Va. – Representatives from the National Credit Union Administration’s (NCUA) Office of Public and Congressional Affairs answered questions and distributed materials regarding consumer protection to interested Members of Congress and their staff at the National Consumer Protection Week Consumer Education Fair on Capitol Hill today. NCUA was joined by several other federal agencies and consumer groups at the event, which helped raise awareness of the upcoming National Consumer Protection Week from March 2-8, 2008.

Chairman Johnson released the following statement regarding the importance of consumer protection:

"I am particularly pleased that the theme of this year’s National Consumer Protection Week is financial literacy, which is a cornerstone of equipping consumers with the financial knowledge they need to make smarter decisions about managing their money and using credit in a complex and ever changing marketplace.  From working with credit unions to provide alternatives to predatory lending practices, to leading efforts to promote financial education, NCUA is at the forefront of national efforts to protect America's consumers.”

“We appreciate Congressional involvement in this vital public policy initiative as we move forward to empower consumers through better disclosures, better education, and better choices," added Chairman Johnson.

Consumers and businesses can find resources on how to avoid identity theft and fraud by visiting the Federal Government's consumer protection website, www.consumer.gov

The National Credit Union Administration is the independent federal agency that charters and supervises federal credit unions. NCUA, with the backing of the full faith and credit of the U.S. government, operates the National Credit Union Share Insurance Fund (NCUSIF), insuring the savings of nearly 85 million account holders in all federal credit unions and most state-chartered credit unions. NCUA is funded by credit unions, not tax dollars.