The Senate Banking Committee should use tomorrow's oversight hearing on credit unions to make sure the NCUA is more transparent and that regulations don't unintentionally overburden credit unions, according to a letter from NAFCU to panel members.
NAFCU President/CEO Fred Becker wrote that he hopes the panel will "continue its careful oversight to ensure the NCUA implements the corporate stabilization legislation in a transparent manner."
He also urged the panel to exercise careful oversight to "examine the unintended, but nevertheless substantially adverse, impact of the ever-increasing regulatory burden on smaller financial institutions."
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The Senate Banking Committee is holding a hearing on the state of the credit union industry at 10:00 a.m. tomorrow. NCUA Chairman Debbie Matz is the sole witness.
To watch a webcast of the hearing, go to: http://www.banking.senate.gov
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