Agreed - state banking regulators don't have the tools or payroll to see everything.
The question is, was this rechartering with an eye to evading the Feds and oversight. Hmmm....
Banking Senate.gov
Oversight of Financial Regulators:
A Strong Banking and Credit Union System for Main Street
DATE: Tuesday, November 15, 2022
TIME: 10:00 AM
LOCATION: Dirksen Senate Office Building 538
TOPIC
THE COMMITTEE ON BANKING, HOUSING, AND URBAN AFFAIRS will meet in OPEN SESSION, HYBRID FORMAT to conduct a hearing entitled, “Oversight of Financial Regulators: A Strong Banking and Credit Union System for Main Street.” The witnesses will be: The Honorable Michael S. Barr, Vice Chair for Supervision, Board of Governors of the Federal Reserve System; The Honorable Todd M. Harper, Chair, National Credit Union Administration; The Honorable Martin J. Gruenberg, Acting Chair, Federal Deposit Insurance Corporation; and Mr. Michael J. Hsu, Acting Comptroller, Office of the Comptroller of the Currency.
Pursuant to guidance from the CDC and OAP, Senate office buildings are not open to the public other than official business visitors and credentialed press at this time. Accordingly, in-person visitors cannot be accommodated at this briefing. We encourage the public to utilize the Committee’s livestream of the hearing, available on the website at http://www.banking.senate.gov.
All hearings are webcast live and will not be available until the hearing starts. Individuals with disabilities who require an auxiliary aid or service, including closed captioning service for webcast hearings, should contact the committee clerk at 202-224-7391 at least three business days in advance of the hearing date.
MEMBER STATEMENTS
Chairman Sherrod Brown (D - OH)
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Ranking Member Patrick J. Toomey (R - PA)
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WITNESSES
The Honorable Michael S. Barr
Vice Chair For Supervision
Board of Governors of the Federal Reserve System
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The Honorable Todd M. Harper
Chair
National Credit Union Administration
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The Honorable Martin J. Gruenberg
Acting Chair
Federal Deposit Insurance Corporation
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Mr. Michael J. Hsu
Acting Comptroller
Office of the Comptroller of the Currency
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I may be in error. change was from fdic to fed reserve bank? still federal but surely more friendly.?
Change is a great way to hide things.