NAFCU statement on report that NCUA Chairman Matz will testify at oversight hearing

WASHINGTON, DC (July 13,2015) — National Association of Federal Credit Unions (NAFCU) President and CEO Dan Berger issued the following statement in response to a report that NCUA Chairman Debbie Matz will testify July 24 in an oversight hearing held by the House Financial Services Subcommittee on Financial Institutions and Consumer Credit, chaired by Rep. Randy Neugebauer, R-Texas.

“NAFCU appreciates the subcommittee holding this important hearing.  Any opportunity for robust debate and to shine a light on important credit union issues is extremely positive,” said Berger. “We look forward to Chairman Matz’s testimony. While NAFCU and our members do not always agree with NCUA, we share the goal of keeping all federally insured credit unions strong.”

The hearing is expected to focus on NCUA’s budget, efforts to bring greater transparency to the agency’s budget process and recent rulemakings, such as the current risk-based capital proposal.

This hearing would mark Matz’s first appearance as a congressional hearing witness since 2011.

Matz has expressed concerns about the bipartisan, NAFCU-backed H.R. 2287, the “NCUA Budget Transparency Act,” sponsored by Reps. Mick Mulvaney, R-S.C., and Krysten Sinema, D-Ariz. The bill would require NCUA to make its draft budgets publicly available and submit them for publication in the Federal Register, and it would require that the agency hold public hearings on its budget. H.R. 2287 is focused on budget transparency and would not alter the NCUA Board’s authority to set and administer the agency’s budget.

NAFCU has also championed H.R. 2769, bipartisan legislation introduced last month, which would require NCUA to study and report to Congress on key elements of the RBC2 proposal and its potential impact on credit unions’ capital cushions before moving forward with it.

The National Association of Federal Credit Unions is the only national trade association focusing exclusively on federal issues affecting the nation’s federally insured credit unions. NAFCU membership is direct and provides credit unions with the best in federal advocacy, education and compliance assistance.

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