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News Now

Washington
Matz to testify at todays Sen. Banking CU hearing
WASHINGTON (12/9/10)--National Credit Union Administration (NCUA) Chairman Debbie Matz will be the sole witness at a credit union-specific Senate Banking Committee hearing later today. The hearing, which is entitled "The State of the Credit Union Industry," will likely address 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. Matz in her testimony is expected to provide legislators with an 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. The hearing was originally scheduled to take place at 2:30 p.m. ET on Tuesday, but was moved due to scheduling conflicts. Representatives from the Credit Union National Association (CUNA) are not testifying during the hearing, but CUNA has submitted a statement for the record. (See related story: CUNA to Sen. Comm.: CUs serve as ‘shining example’) Discussion of Joseph Smith’s nomination to serve as Federal Housing Finance Agency (FHFA) director will follow the credit union hearing.


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