A small thing, but it gets my yellow marker pen. This is National Credit Union Administration Chairman Debbie Matz speaking to the House Financial Services Committee about her agency and the Financial Stability Oversight Council (FSOC):
"The [FSOC] is performing a valuable service for the American people by identifying risks, promoting market discipline and responding to emerging threats to the U.S. financial system on critical issues such as the oversight of key financial market utilities, data standards infrastructure and cyber-security threats.”
Data standards infrastructure. That's exactly right. Data standards aren't an optional extra. They're not some kind of outer shell. And they're not an abstract good. Data standards are infrastructure. We need data standards to run our businesses, our nations, our lives. We rely on them. They are an integral part of the modern world. When we run right, we run on standards. CU Journal
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