WASHINGTON — NCUA Chairwoman Nominee Debbie Matz told lawmakers today that she wouldn't object if credit unions are excluded from the purview of a proposed new agency to regulate consumer financial products.
She said the new agency was needed to centralize regulation of consumer financial products but that the NCUA does a "great job" of regulating financial products that credit unions sell to consumers.
Matz told members of the Senate Banking Committee during at her 23-minute confirmation hearing that she would ensure that the agency's rules contain "appropriate safeguards and sufficient opportunities for credit unions to thrive."
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