NCUA Chair Hood Testifies Before House Financial Services Committee

NCUA Chairman Rodney Hood and other financial regulators were on Capitol Hill yesterday to share insights into the safety and soundness of the U.S. financial system, and other issues impacting the financial services providers and consumers.

Chairman Hood was joined by Federal Reserve Vice Chairman of Supervision Randal Quarles and FDIC Chair Jelena McWilliams in appearing before the House Financial Services Committee as part of federal regulators’ semi-annual testimony before Congress. The three are scheduled to make a similar appearance today before the Senate Banking Committee.

CUNA submitted a letter for the hearing record which outlined recent NCUA actions that have been positive for credit unions, as well as areas for potential improvement.

CUNA’s letter also called on NCUA to continue coordination with other federal regulators, including but not limited to the Consumer Financial Protection Bureau and the Federal Communications Commission.

Chairman Hood’s testimony is available here. Fed Vice Chairman Quarles’ testimony is available here and FDIC Chair Jelena McWilliams’ testimony here.