WASHINGTON (2/4/15)--The Senate Banking Committee is calling together the federal financial institution regulators, including the National Credit Union Administration, for a hearing next Tuesday on regulatory relief for credit unions and community banks.
Credit union regulatory relief is a Credit Union National Association priority in both the legislative and regulatory arenas. Early this year, CUNA President/CEO Jim Nussle unveiled CUNA advocacy priorities noting that CUNA is taking an ambitious 'removing barriers' agenda to Congress this year. "More must be done to help credit unions better serve their members," he said.
The session is scheduled for 10 a.m. to 12 p.m. (ET) and it marks the committee's first hearing of the year on financial institutions topics. Sen. Richard Shelby (R-Ala.) become the head of the committee in January, when Republicans became the majority party in both chambers of the U.S. Congress.
NCUA Director of Examination and Insurance Larry Fazio is scheduled to testify on behalf of his agency. Other witnesses noted in the committee's Tuesday announcement are: