Comment from New York Credit Union Association
New York Credit Union AssociationSupportTrade association
Summary: The New York Credit Union Association (NYCUA) supports the NCUA's proposed standards for stablecoin issuers under the GENIUS Act, emphasizing the need for parity with bank standards. They advocate for specific provisions that ensure charter neutrality, tailored reserve requirements for smaller credit unions, and streamlined AML/CFT examinations to avoid duplication.
New York Credit Union Association comments on NCUA Stablecoin Standards Proposal