Press

April 24, 2015

The Honorable Lynn Westmoreland

2202 Rayburn House Office Building

U.S. House of Representatives

Washington, D.C. 20515

The Honorable Carolyn B. Maloney

2308 Rayburn House Office Building

U.S. House of Representatives

Washington, D.C. 20515

Re: H.R. 1941 “Financial Institutions Examination Fairness and Reform Act”

Dear Representatives Westmoreland and Maloney:

On behalf of the National Association of Federal Credit Unions (NAFCU), the only trade association exclusively representing our nation’s federally chartered credit unions, I write today in support of H.R. 1941, the “Financial Institutions Examination Fairness and Reform Act.” NAFCU and our members thank you for your leadership on this important issue.

As you know, this legislation would provide credit unions with much-needed clarity in the examination process that is integral to credit union operations. It also calls for consistency from exam to exam, with exam results provided to the financial institution no later than 60 days after the close of the examination. Improving exam fairness is a principle element of NAFCU’s five-point plan for credit union regulatory relief and is something NAFCU has long supported.

Again, thank you for your leadership on this issue of great importance to our nation’s federal credit unions. If my staff or I can be of assistance to you, or if you have any questions regarding this issue, please feel free to contact me or NAFCU’s Director of Legislative Affairs Jillian Pevo at (703) 842-2836.

Sincerely,

Brad Thaler

Vice President of Legislative Affairs

cc:       Members of the House Committee on Financial Services