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News Now

Washington
Congressional CU hearing moved to Thursday
WASHINGTON (12/7/10)--A Senate Banking Committee hearing on the "State of the Credit Union Industry" has been rescheduled for Thursday. National Credit Union Administration (NCUA) Chairman Debbie Matz will be the sole witness during the hearing. The hearing was originally scheduled for 2:30 p.m. ET today. Sources said that the hearing was moved from its original Tuesday slot due to scheduling conflicts, as the impeachment trial of a federal judge and other quorum calls would likely take up much of the time. A Senate banking subcommittee had also scheduled a hearing for Wednesday, so Thursday was the best chance for the hearing to be held. The U.S. Congress has not held a credit union industry-specific oversight hearing in several years. The Thursday hearing is likely to probe the general health of natural-person credit unions, as well as the state of corporate credit unions and the NCUA's actions to restore liquidity. In the NCUA's assessment, the chairman will give a broad overview of the financial condition of the industry and NCUA's regulatory and supervisory efforts to keep credit unions safe, sound and continuing to serve consumers.


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