U.S. Senator Heidi Heitkamp (D-N.D.) and NCUA Board Chairman Debbie Matz participated in a roundtablediscussion with 40 credit union leaders from across North Dakotaand South Dakota on April 8.

Matz shared some of the agency's regulatory relief initiatives,in light of the fact that Dakota credit unions face a lending capon business and commercial loans of 12.25% of their assets.

Matz mentioned that the agency is working on adding supplementalcapital, expanding fields of membership, removing the fixed assetlimit caps at 5%, permitting asset securitization and eliminatingthe underwriter requirements on home mortgage originations.

“We had very productive discussions with Senator Heitkamp andcredit unions in North Dakota,” NCUA Board Chairman Debbie Matzsaid. “I've always said that I find the most effective way togather information about credit unions is to meet with credit unionofficials. This trip once again validated this approach, so I'mglad that Senator Heitkamp asked me to visit. ”We learned moreabout problems with mobile home lending, cybersecurity, credit cardfraud and ways to streamline member business lending. I'll be usingthis feedback to improve NCUA's rules and extend our regulatoryrelief efforts. For those problems outside of NCUA's jurisdiction,I'll be sharing what we learned with my fellow regulators at otheragencies.”

The event, organized cooperatively between Heitkamp's office andthe Credit Union Association of the Dakotas, took place inBismarck, N.D. Heitkamp, a member of the Senate Banking committee,moderated the discussion.

Some credit union leaders cited the Dodd-Frank Wall Street Reformlegislation as a source of regulatory burden that stands in the wayof serving their members.

In response to this concern, Heitkamp said, “Too-big-to-failpolicy and new rules that were meant to prevent bad lendingpractices and protect consumers has unintentionally meant thatsmaller institutions are almost too small to succeed.”

Credit unions also shared information about lending-relatedissues, especially in North Dakota's northwestern corridor, whereavailability and affordability of housing remains anissue.

“It was an honor and pleasure to host the Chairman and herofficers at our credit union,” Paul Brucker, president/CEO ofRailway Credit Union, said. “We found them to be open, honest andwilling to have serious dialogue on some items that would allow usto better serve our members. We appreciate Senator Heitkamp and theCredit Union Association of the Dakotas for having the foresight toput this event together on behalf of our credit unions andmembers.”