National Credit Union Administration Deputy Executive Director Rendell Jones, along with other financial regulatory agency principals, testified today at a hearing before the U.S. House Subcommittee on Financial Institutions and Monetary Policy.
Deputy Executive Director Jones provided the Committee with a summary of the NCUA’s recent climate-related financial risk request for information. He discussed the NCUA’s efforts to gain input from stakeholders to identify and understand credit unions’ current and future climate-related financial risks and the agency’s goals in issuing the RFI. He stressed that any new requirements for credit unions associated with climate-related financial risk would require changes to examination and supervision procedures and approval by the NCUA Board.