NCUA Chairman Debbie Matz and NASCUS Chairman Thomas Candon are scheduled to discuss the health of credit unions during Wednesday's Senate subcommittee hearing on the state of the banking industry.
The Senate Banking Committee's Subcommittee on Financial Institutions is holding the hearing, which will also hear testimony from FDIC Chairman Sheila Bair, Comptroller of the Currency John Dugan, Federal Reserve Governor Daniel Tarullo, Office of Thrift Supervision Deputy Director Timothy Ward and Conference of State Bank Supervisors Chairman Joseph A. Smith.
The hearing comes at a time when Congress is working on legislation that would overhaul the laws that would regulate financial institutions. The House Financial Services Committee is scheduled to begin marking up the legislation on Wednesday. The component of biggest concern to credit unions is the proposed Consumer Financial Protection Agency.
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President Obama made a big push for his proposal the initiative during a White House event on Friday, which Matz, Bair, Treasury Secretary Timothy Geithner and key lawmakers attended.
Wednesday's hearing marks the first time Matz and Candon will be testifying on Capitol since beginning their new positions in August.
The hearing is scheduled to begin at 2:30 p.m.
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