WASHINGTON (2/6/15)--CUNA will testify at an upcoming U.S. Senate Banking Committee hearing on regulatory relief scheduled for Feb. 12. The hearing will examine the effects of regulatory burden on credit unions and community banks. It will follow a Feb. 10 hearing on the same topic at which federal financial regulators--including the Natoinal Credit Union Administration--will testify.
Wally Murray, president/CEO, Greater Nevada CU, Carson City, Nev., with $474 million in assets, will testify on CUNA's behalf. Murray currently chairs the Nevada Credit Union League board, serves on CUNA's examinations and supervision subcommittee and was nominated by CUNA to serve on the National Credit Union Administration's revised risk-based capital proposal working group.
Regulatory relief is a top priority for CUNA, from both the legislative and regulatory side. As noted above and reported in Wednesday's News Now, the Senate Banking Committee will hear from NCUA Director of Examination and Insurance Larry Fazio and federal and state bank regulators on Tuesday.
CUNA testified at similar regulatory relief hearings last year, including before the Senate Banking Committee in September and the House subcommittee on financial institutions and consumer credit in July.