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Credit Union urges consultation feedback

 

Those behind plans for a credit union in the Isle of Man are urging people to contribute to a public consultation on the matter which is currently being conducted.

The Manx Credit Union Working Party is urging everyone who is interested in one being set up to show their support.

The Financial Supervision Commission has issued the consultation, ahead of the drafting of a new Credit Union Bill.

Chairman of the working party David Talbot says previous attempts to launch such a union have been frustrated by the current gaps in legislation and financial regulation.

He says they don't want to be hampered again, by the introduction of an over-prescriptive and narrow-sighted framework.

The consultation runs until March 13, and can be found at online at fsc.gov.im

 

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