NCUA Chairman Debbie Matz reaffirmed her support for supplemental capital for credit unions at WOCCU’s annual meeting. Credit unions’ need for capital reform can only heighten. But permitting the NCUA to define prompt corrective action buckets requires action by Congress.
NCUA Chairman Debbie Matz reaffirmed her support for supplemental capital for credit unions at WOCCU’s annual meeting. Credit unions’ need for capital reform can only heighten.
Deputy secretary says new CFPB will allow other regulators to focus on core missions, expand consumer choice and be accountable to Congress.
Pushing back against what he says is one of the most expensive lobbying efforts by big banks, Senate Majority Whip Richard Durbin (D-Ill.) said today that credit unions and small banks were being used by larger financial institutions.
Last year, Congress passed landmark legislation to reform the interchange fee system in America. This bipartisan effort came after years of congressional hearings and Government Accountability Office studies that made clear that the interchange system was on an unsustainable course.
The NCUA's handling of the corporate credit union crisis will be among the credit union-related topics that the House and Senate banking panels plan to deal with during the next two years.
The Senate Banking Committee plans to provide "continued oversight" of the NCUA's corporate stabilization, according to the panel's two-year oversight plan issued by Chairman Tim Johnson (D-S.D.).
If a journey of 1,000 miles does begin with one step, then NCUA Chairman Debbie Matz's letter to Congress on supplemental capital could be the beginning of a long trip.
Congress hasn't scrutinized the NCUA's handling of the problems at corporate credit unions very much.
A law passed by Congress giving the NCUA the power to make payments to the Temporary Corporate Credit Union Stabilization Fund without borrowing from the Treasury sparked an industry discussion about the agency's assessment process.