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Linda McFadden, XCEL Federal Credit Union president/CEO and NAFCU witness, shakes hands with Sen. Jerry Moran (R-Kan.). Photo credit: Ken Cedeno

Linda McFadden, president/CEO of the $154 million XCEL Federal Credit Union in Bloomfield, N.J., told a congressional committee Tuesday that many credit unions are afraid to bring their regulatory concerns to the NCUA.

“They came out with a [risk-based capital] proposal that was so off the wall that they knew it was going to cause a stir within the credit union movement,” McFadden said at a Senate Banking, House and Urban Affairs committee hearing.

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