NCUA Acting Chair J. Mark McWatters discussed recommendations to “achieve real relief while maintaining safety and soundess” before the Senate Banking Committee Thursday, part of a hearing on regulators’ role in fostering economic growth. McWatters’ appearance before the committee was part of a series on fostering economic growth, a series CUNA testified for earlier this month.

The committee asked NCUA to identify ways to ease regulatory burden through legislation. McWatters addressed several proposals.

These include legislation that would:

• Provide NCUA with enhanced flexibility to write rules to address regulatory relief situations under the Federal Credit Union Act.
• Allow federal credit unions with a community or single-bond charter the opportunity to add underserved areas to a field of membership.

 

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