Executive Director David M. Marquis testimony on "Current Issues in Deposit Insurance" before the Senate Banking Housing and Urban Affairs Committee.
Federally insured credit unions comprise a small but important part of the financial institution community, and the NCUA's perspective on this matter will add to the overall nderstanding of the needs of the credit union industry and the members they serve. Financial institutions play a critical role in the economy, and it is vital they remain safe and sound. The protection and security provided by federal deposit insurance to depositors is a key foundation of the confidence in and stability of America‟s financial institutions. Therefore, it is important and timely to consider methods to improve the framework for deposit insurance coverage and the operational authorities available to the federal deposit insurers.