NCUA, NAFCU, CUNA NASCUS to Speak at Senate Banking Reg Relief Hearing

WASHINGTON – The witness list for the Senate Banking Committee’s hearing on regulatory relief took shape just as press time approached. “The purpose of this hearing is to provide the Committee members with a comprehensive overview of all the current proposals for legislation on financial services reform,” the invitation read. NCUA Chairman JoAnn Johnson will be speaking for the agency at the hearing. NEPCO Federal Credit Union (Pueblo, Colo.) CEO Marilyn James will represent CUNA on the third panel, which includes the trade associations. NASCUS is sending Chairman Roger W. Little, Michigan deputy commissioner of the credit union division of financial institutions, who will sit on the second panel with the other regulators. NAFCU reported having received its invitation, but had not decided on a representative as of deadline. Senators Mary Landrieu (D-La.) and Blanche Lincoln (D-Ark.), who are not on the committee, will comprise the first panel. Representatives from several of the banking regulatory agencies will complete the second panel. Finally, the third panel will be rounded out by representatives from the banking trade associations and consumer advocacy groups. Though a bill has passed the House, the Senate has yet to draft a bill. Senate Banking Committee Chairman Richard Shelby (R-Ala.) has charged Senator Mike Crapo (R-Idaho) with writing the legislation, which he has said he will do after the hearing.