NCUA’s Hood to testify before House, Senate committees this week

November 9, 2020

CUNA will be engaged with two hearings this week involving regulators’ response to the pandemic, both featuring testimony from NCUA Chairman Rodney Hood.

Hood will testify before the Senate Banking Committee Tuesday at 2 p.m. (ET) for a virtual hearing titled, “Oversight of Financial Regulators.”

He will also testify Thursday for the House Financial Services Committee’s virtual hearing, “Oversight of Prudential Regulators: Ensuring the Safety, Soundness, Diversity, and Accountability of Depository Institutions during the Pandemic,” starting at noon (ET).

In addition to Hood’s testimony, the House Financial Services Committee hearing will feature discussion of two pieces of CUNA-backed legislation:

  • The Access to Credit for Small Businesses Impacted by the COVID-19 Crisis Act (H.R. 6789) would exempt credit union business loans related to the pandemic from the member business lending cap for one year; and
  • The Preventing Regulatory Penalties for PPP Lenders Act (H.R. 8675) would prevent regulatory penalties for Paycheck Protection Program (PPP) lenders.