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News Now

Washington
NCUA to testify Thursday on underserved consumers
WASHINGTON (9/21/11)-- National Credit Union Administration (NCUA) Executive Director David Marquis is scheduled to testify Thursday at 9:30 a.m. (ET) before the House Financial Services subcommittee on financial institutions and consumer credit. The topic: “An Examination of the Availability of Credit for Consumers.” Marquis is part of a first panel of witnesses, which also will include Barry Wides, deputy comptroller for community affairs, Office of the Comptroller of the Currency, and Robert Mooney, deputy director for consumer protection and community affairs, Federal Deposit Insurance Corp. A second panel of witness is expected to include Gerri Guzman, executive director, Consumer Rights Coalition, Melissa Koide, vice president of policy, Center for Financial Services Innovation, Ryan Gilbert, CEO of Bill Float, Michael Grant, president, National Bankers Association, and Dr. Kimberly Manturuk, research associate, University of North Carolina Center for Community Capital. Also on the calendar for Thursday, the NCUA is scheduled to vote on its final rule on “Net Worth and Equity Ratio Definitions.” In March, the agency proposed amending the Federal Credit Union Act's definition of net worth for natural-person credit unions under NCUA's Prompt Corrective Action authorities to allow the NCUA's Section 208 Assistance made to troubled credit unions to qualify as regulatory net worth.


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