WASHINGTON — NCUA Chairman Debbie Matz and NASCUS Chairman Thomas Candon told lawmakers today that any effort to consolidate banking regulators should keep NCUA separate and independent.
During answers to questions from the Senate Banking Committee's Subcommittee on Financial Institutions, both said the administration's plan should remain unchanged with regards to NCUA. The other regulators at the hearing mostly agreed that keeping all the regulators intact was good public policy.
"You lose some expertise, which can help ensure safety and soundness," said Federal Reserve Governor Daniel Tarullo.
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