BlackRock to Pimco Lobby Slows U.S. Move Toward Oversight
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The location of the National Credit Union Administration suits its place in the hierarchy of U.S. financial regulators. Unlike its better-known peers, which are all clustered near the Capitol or the White House, the agency is a 20-minute drive from downtown Washington in good traffic.
That hasn’t stopped senior executives at two of the world’s largest asset-management firms, BlackRock Inc. and Pacific Investment Management Co., from trekking out to the agency’s Virginia offices. Their mission: Convince Chairman Debbie Matz their companies don’t threaten the financial system.