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NCUA Tackles Key Issues at Hearing

NCUA's Fazio tells Senate Banking Committee 77% of credit unions could gain regulatory relief.

By Nicholas Ballasy | Updated on February 13, 2015
senate banking committee larry fazio NCUA

Larry Fazio, NCUA director of examination and insurance, (pictured on left) talked FOM, MBLs, and supplemental capital at a Feb. 10 hearing before the Senate Banking Committee.

WASHINGTON — The NCUA Board will consider raising the definition of a small credit union from assets less than $50 million to assets less than $100 million, an NCUA official announced before a Feb. 10 congressional hearing.

Larry Fazio, NCUA director of examination and insurance, also requested member business lending, supplemental capital and field of membership changes at a Senate Banking Committee hearing on regulatory relief for community banks and credit unions. He told lawmakers the NCUA wants the authority to examine and enforce corrective actions at third-party vendors, comparable to the powers of the FDIC, Office of the Comptroller of the Currency, and the Federal Reserve. Officials from all three agencies also testified.

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