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WASHINGTON — Congressman Patrick McHenry (R-N.C.) was well received this year at NAFCU’s Congressional Caucus after a tumultuous first year in credit union matters, namely conversions to mutual savings banks.

“Thanks for having me back. I’m glad to be here to tell the tale,” the freshman congressman quipped in opening his remarks. He noted that his bill to curb NCUA’s authority over the disclosures in the mutual savings bank conversion process was unpopular among credit unions, but after getting the issues on the table, working with the industry and the regulatory agency, things were worked out and he has decided not to pursue the legislation at this point.

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