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News Now

Washington
Senate panel to hold State of CU hearing next week
WASHINGTON (12/1/10)--The Senate Banking Committee late Tuesday announced it will hold a “State of the Credit Union Industry” hearing Dec. 7 at which National Credit Union Administration (NCUA)Chairman Debbie Matz will be the sole witness. It has been years since the U.S. Congress has staged a credit union industry oversight hearing and this session is likely to probe the general health of natural-person credit unions, as well as the state of corporate credit unions and the NCUA’s actions to restore liquidity. In the NCUA's assessment, the chairman will give a broad overview of the financial condition of the industry and NCUA's regulatory and supervisory efforts to keep credit unions safe, sound and continuing to serve consumers. The hearing is scheduled for 2:30 p.m. (ET) and will be followed directly by a hearing on the nomination of Joseph A. Smith, Jr., of North Carolina, to be director of the Federal Housing Finance Agency.


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