Treasury and FSA have published a joint consultation paper on the future regulation of credit unions in Northern Ireland. The proposals will bring these unions within the same regulatory regime as their counterparts in the rest of the United Kingdom. FSA will regulate the unions, which will also come within the scope of the Financial Services Compensation Scheme and Financial Ombudsman Service. Mark Hoban said it was important for consumers using these institutions to have the same opportunities and protections as consumers using credit unions in England, Scotland or Wales. Consultation closes on 31 October 2011. (Source: Treasury and FSA Consult on NI Credit Unions)