Treasury Secretary Scott Bessent said he did not support consolidation of federal financial regulators in recent remarks.

"We need our financial regulators singing in unison from the same song sheet. To be clear, this does not mean consolidation of agencies, but coordination via Treasury, such that our regulators work in parallel with each other and industry,” he said at the New York Economic Club.

America’s Credit Unions has engaged with Bessent, Office of Management and Budget Associate Director Mark Calabria, and the U.S. Department of Government Efficiency Service in strong support of maintaining the NCUA as credit unions’ independent regulator.