WASHINGTON — NCUA Board Chairman JoAnn Johnson will seek to reassure federal lawmakers about the financial health of credit unions when she joins other banking regulators testifying today before the Senate Committee on Banking, Housing and Urban Affairs.
"Despite the dislocations in the credit markets and the attendant effect on the mortgage industry and now the broader economy," Johnson wrote in her prepared remarks, "the federally insured credit union industry continues to be financially strong. NCUA is very aware of the need for close and diligent regulatory oversight in the context of the difficult environment."
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