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NCUAs Skiles to testify on easy access hotline
WASHINGTON (12/12/07)—National Credit Union Administration (NCUA) Executive Director Leonard Skiles is scheduled to testify today on the merits of establishing a single, toll-free telephone number consumers with banking problems could call to reach the appropriate credit union, bank or thrift regulator. Skiles is slated to be part of a panel of witnesses representing federal and state financial institution regulators and will present his agency’s views on the “Financial Consumer Hotline Act of 2007.” The hearing is being conducted by the House Financial Services subcommittee on financial institutions and consumer credit. The chair of that committee, Rep. Carolyn Maloney (D-N.Y.), in announcing the hearing said of the hotline idea, “A number of different governing bodies currently regulate banks, which can make it difficult for consumers to figure out who they should contact with concerns and complaints. One number could help cut down on the confusion and put consumers in quicker contact with the appropriate regulator.” A second panel of witnesses will feature consumer groups, Consumers Union and U.S. Public Interest Group.


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