NCUA Chairman Rodney Hood identified four areas where statutory changes would improve liquidity, provide capital relief, enhance community lending opportunities and increase credit union access to remote financial services delivery Tuesday in his remote testimony before the Senate Banking Committee. CUNA submitted a letter for the hearing’s record Monday.
Hood’s testimony also included information on NCUA’s response to the pandemic, as well as detailed agency efforts regarding cybersecurity; diversity, equity and inclusion; and the taxi medallion portfolio, among other items.
Hood’s recommendations included those he wrote to Senate Banking Committee Chair Sen. Mike Crapo (R-Idaho) about last month, and fall into four areas:
CUNA supports many of these actions, including the changes to the Central Liquidity Facility, flexibility in handling credit unions that may fall into the 6% to 7% net worth leverage ratio, raising the member business lending cap and raising the federal credit union loan maturity limit.