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NASCUS’ testimony to Subcommittee on Financial Institutions and Consumer Credit for Hearing on Examining Credit Union Regulatory Burden Emphasizes Meaningful Regulatory Relief for FISCUs

ARLINGTON, VA – NASCUS has submitted testimony to the Subcommittee on Financial Institutions and Consumer Credit for the April 10 Hearing on Examining Credit Union Regulatory Burden.

NASCUS’ testimony touches on several concepts for consideration to improve the regulatory supervision of state-chartered credit unions while providing prudent regulatory relief, including the need for credit union capital reform, state regulatory representation on the National Credit Union Administration (NCUA) Board, and increasing the size of the NCUA Board.

NASCUS’ recommendations for regulatory relief emphasize reforms that both improve the regulatory supervision of credit unions and enhance the consumer member access to quality credit union products and services and enhance the capabilities of state-chartered credit unions. Ultimately these recommendations will benefit the tens of millions of credit union consumer members that belong to the nation’s state-chartered credit unions.

“NASCUS is supportive of Congress’ efforts to provide regulatory relief, and we want to ensure that state charters benefit from relief initiatives” said NASCUS President and CEO Mary Martha Fortney. “NASCUS continually works to raise awareness of regulatory relief for the state system both in Congress and at NCUA.”

To see the testimony click here.

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