Removing Barriers Blog

Senate Banking to Hold Hearing with NCUA and FDIC Chairmen
Posted June 21,2017 by CUNA Advocacy

Tomorrow, the Senate Banking, Housing and Urban Affairs Committee will hold a hearing entitled, “Fostering Economic Growth: Regulator Perspective.”  The hearing’s witness list includes NCUA’s Acting Chairman Mark McWatters along with the FDIC Chairman, a Member of the Board of Governors of the Federal Reserve System, the Acting Comptroller of the Office of the Comptroller of the Currency, and Commissioner of the Texas Department of Banking. 

Prior to tomorrow’s hearing, CUNA sent a letter to Chairman Crapo and Ranking Member Brown reminding the Committee of the important role credit unions play in the American economy and how credit unions could better serve under a regulatory scheme calibrated for size and complexity, rather than the current one-size-fits all mentality.  The letter also highlights the letter Chairman McWatters sent to the CFPB Director where he outlined specific areas where regulatory relief is needed for credit unions.   

This is the third in a series of hearings the Committee has held on Fostering Economic Growth.  Earlier in June, CUNA Board Member, Dallas Bergl testified before the Committee for their hearing on the Role of Financial Institutions in Local Communities.  

CUNA applauds the Committee for holding these important hearings and will continue to advocate for common-sense regulations for America’s credit unions and their 110 million members.