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News Now

Washington
Johnson to testify at State of Banking hearing
WASHINGTON (3/3/08)—National Credit Union Administration (NCUA) Chairman JoAnn Johnson is scheduled to be part of a panel of six federal financial regulators testifying before the Senate Banking Committee tomorrow. The hearing is entitled “The State of the Banking Industry.” In addition to Johnson, the witness list names Sheila Bair, chairman, Federal Deposit Insurance Corp., John Dugan, Comptroller of the Currency, John Reich, director, Office of Thrift Supervision, and Thomas Gronstal, Iowa Superintendent of Banking, as scheduled to testify. Later in the week Johnson is slated to testify before the House Financial Services Committee on the need for credit union regulatory relief and improvements. Major discussion is expected to be devoted to provisions of the Credit Union Regulatory Improvements Act (CURIA, H.R.1537), a bill currently with 145 official supporters in the House. Both hearings are set to take place during the Credit Union National Association’s 2008 Governmental Affairs Conference (GAC) in Washington. The authors of CURIA, Reps. Paul Kanjorski (D-Pa.) and Ed Royce (R-Calif.), as well as Chairman Barney Frank (D-Mass.) of the House financial services panel, are scheduled to address the record crowd of approximately 4,500 credit union representatives at the GAC.
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