McWatters talks reg relief legislation, actions from NCUA

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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