J. Mark McWatters, chairman of the National Credit Union Administration, listens during a Senate Banking Committee hearing. Photographer: Andrew Harrer/Bloomberg

NCUA Chairman J. Mark McWatters on Tuesday asked Congress to loosen field-of-membership rules and allow the agency to supervise third-party vendors.

“While the NCUA Board can provide federally insured credit unions with meaningful regulatory relief, congressional action is required to provide additional flexibility in some areas,” McWatters told the Senate Banking Committee during a hearing on how banking and credit union regulators are implementing the regulatory overhaul bill, S. 2155, that passed during this Congress.

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