CUNA President/CEO Dan Mica is scheduled to testify before the Senate Banking Committee tomorrow to discuss how credit unions would like to see any regulatory restructuring affect them.
CUNA has long said that NCUA should remain an independent agency and that credit unions and the NCUSIF should not be lumped together with the banks in the same regulator or insurance fund.
Mica's testimony will come four days after the NCUA placed two of the largest corporate credit unions-US Central and Wescorp-into conversvatorship. It's unclear whether NCUA's actions in this matter, the impact of the actions on the NCUSIF and NCUA's request for additional borrowing authority will come up during either Mica's testimony or during lawmakers' questions.
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