Marx on Capitol: Election May Usher In More Regulatory Oversight
Except for Newt Gingrich’s two mischaracterizations, credit unions haven’t come up as an issue in this election campaign so far.
That doesn’t mean, however, that the folks at NCUA headquarters aren’t keenly interested in the outcome.
The bill would allow financial institutions to appeal their exam results to an administrative law judge and mandate that federal bank examiners provide greater documentation of their findings.
Lawmakers of both parties used the hearing to vent about what they see as the excesses and arrogance of regulators. Look for even more of those kinds of hearings, and the not-so-subtle message they send to the NCUA and other agencies, down the road.