Solari Comments Submitted to the National Credit Union Administration on GENIUS Act Standards Proposal
Become a member: Subscribe
NTS Headlines
Headlines by Category
Headlines by Year
- Money & Markets
- Weekly Solari Reports
- Cognitive Liberty
- Solari Builders
- Ask Catherine
- News Trends & Stories
- Equity Overview
- War For Bankocracy
- Digital Money, Digital Control
- State Leader Briefings
- Food
- Food for the Soul
- Future Science
- Health
- Metanoia
- Solutions
- Spiritual Science
- Wellness
- Building Wealth
- Via Europa
Solari’s Building Wealth materials are organized to inspire and support your personal strategic and financial planning.
Building Wealth
This 6-pillar curriculum teaches the basic literacy we need to be personally and financially successful and to do so in a manner in which together we evolve a culture that supports the emergence of an advanced human civilization.
Missing Money
Articles and video discussions of the $21 Trillion dollars missing from the U.S. government
Connect with the wider network of like-minded Solari subscribers using our in-house social media platform, Solari Connect.
No posts
Blog
Solari Comments Submitted to the National Credit Union Administration on GENIUS Act Standards Proposal
July 21, 2026
“We remain concerned … that the Standards Proposal as drafted does not adequately protect consumers, preserve financial privacy, safeguard the deposit funding of community credit unions and banks, or prevent the deployment of programmable money as an instrument of surveillance and social control.”
~ Catherine Austin Fitts
Solari Comments Submitted to the National Credit Union Administration on GENIUS Act Standards Proposal
A year ago, in July 2025, President Trump signed the GENIUS Act into law to create a federal regulatory system for stablecoins. Since then, various federal agencies have issued Notices of Proposed Rulemaking (NPRMs) to hammer out the details of GENIUS Act implementation.
On July 16, Solari submitted comments to the National Credit Union Administration (NCUA), in response to the NCUA’s supplemental NPRM (“Standards Proposal”) implementing the standards and restrictions imposed by the GENIUS Act on permitted payment stablecoin issuers (PPSIs). The NCUA, created in 1970, is “an independent federal agency that insures deposits at federally insured credit unions, protects the members who own credit unions, and charters and regulates federal credit unions.”
Previously (in May-June 2026), Solari submitted comments responding to NPRMs issued by three Treasury Department agencies: an NPRM issued by the Office of the Comptroller of the Currency (OCC) and an NPRM jointly issued by the Financial Crimes Enforcement Network (FinCEN) and the Office of Foreign Assets Control (OFAC).
The July comments to the NCUA address:
- Consumer-protection compliance standards related to preservation of cash and non-programmable payment options; guaranteed access to a non-programmable alternative; and prohibition on discrimination, viewpoint-based denial, and social-credit scoring
- Financial privacy and data protection
- Smart contracts, programmable restrictions, and due process
- Redemption integrity and delay notice
- Surveillance risk in supervisory reporting
- Protection of community credit union and bank deposit funding
- Clear disclosure of the absence of share insurance
In the letter’s conclusions, Solari reminds the NCUA that:
“A payments system that surveils, restricts, scores, and controls the financial behavior of individuals, however efficiently, is not a payments system that serves a free people. The NCUA has both the authority and the responsibility to ensure that the framework it establishes reflects this truth.”
You can read Solari’s comments to the NCUA here.
To stay informed about Solari’s legislative and regulator efforts to protect financial freedom, sign up to receive Financial Transaction Freedom email updates from Solari here and consider attending Solari’s monthly Financial Transaction Freedom briefings.
Related at Solari
Solari Comments to OCC on Proposed Rule for GENIUS Act Implementation – Updated
Hero of the Week: May 4, 2026: The Trade Groups Commenting on Proposed GENIUS Act Regulations
Financial Transaction Freedom website
Briefing for State Leaders: The GENIUS Act and Stablecoins
Monthly Briefings for Freedom-Focused State Legislators and Officials
Log in or subscribe to the Solari Report to enjoy full access to exclusive articles and features.
Already a subscriber?
Absolutely brilliant!
Personally a very timely and wonderful report. Thank you again Catherine!
My credit union (formerly a Colorado credit union) just merged with what we were told was a Minnesota Credit Union. Since the merger, I have been dinged twice with late fees and interest for payments I made in full by mail on the day I received the statement. (I can document this.) The new CU claims they did not receive the payments on time, but previously I was sending the statements in-state, and now they are going to Texas. Needless to say, I object! Not only about that, but did I miss the fact that this merger is to combine multiple CUs in multiple states?
1. They don’t send the statements out with enough time for the US mail to deliver…. OR
2. They are being delivered but are not being posted until someone gets around to it–therefore generating very high late fees and interest–a new source of income…
I decided to find a new CU because I object to the new policies under the merger (Rewards Program (thank you Susan Luschas) now even worse because it is linked to Amazon by Wings Credit Union conglomerate.
I searched for highest rated CUs in Colorado, and called my second choice. I explained why I was looking for a new CU, and the person I talked with (very nice and helpful) said that they had also just merged (bot only with CUs in one other state. I would only have to send my check to Kansas.)
If credit union mergers are accelerating, it appears to me that one of the former advantages of being in a credit union (local control) has been lost.
Yet another assault on our privacy and diminished choices. It would be interesting for our formerly local credit union to canvas Colorado members and see how many others are having these problems?
I will bet you it is a lot. Will ask in Ask Catherine
Hi Catherine,
Just wanted to give you a heads up on new information.
I’m embarrassed to say that the information I sent about my CO credit Union’s merger with Wings conglomerate was inaccurate. Apparently the phone call I received was a FRAUD, (probably initiated out of the VISA clearing center there) and I am therefore cancelling the CC. Wings and my local credit union did merge, but it was just between those two not multiple, as was told to me by the person that called. And, my account was NOT overdue… So I am cancelling that card and starting life over with a new one. Any suggestions for a non-VISA brand card?
Nevertheless there are two issues remaining–one is how the mergers that are happening across state lines will affect local control–
The second, which I plan to raise with a meeting with my local CU’s manager on Thursday, has to do with their rewards program, which is not only being financed by lower income card holders, but also is now affiliated with Amazon.
Solari information is invaluable! Thank you. 🙂
Hate to say this, my experience with Visa issued through a good credit union is the most reliable. Good idea to cancel the one they called about.
I would love to have a Solari Credit Union with you as president Catherine!
Also I want to thank your team for all the good loving work they do to educate us on freedom and health matters!
Richard Howard