WASHINGTON -- Senators of both parties asked pointed, though not hostile, questions of NCUA Chairman Debbie Matz about how the agency dealt with the problems of corporate credit unions and whether the agency's examination procedures were adequate.

The Senate Banking Committee should use tomorrow's oversight hearing on credit unions to make sure the NCUA is more transparent and that regulations don't unintentionally overburden credit unions, according to a letter from NAFCU to panel members.

Credit unions are watching what impact the tax compromise agreed to by President Obama and Republican leaders will have on their payroll operations.

What the trade associations and certain credit union leaders can't accomplish, President Obama and Congress might be able to achieve.

Tawana James, who has held a variety of senior posts during more than 30 years at the NCUA, has been named to run the agency's Office of Minority and Women Inclusion.

If the NCUA and state examiners had been more aggressive in their oversight of 10 failed credit unions and management had been more effective and taken fewer risks, losses to the

NCUA Chairman Debbie Matz is now scheduled to testify on the state of the credit union industry at 10:00 a.m. on Thursday, the Senate Banking Committee announced today.

A majority of members of a deficit-reduction panel today endorsed the package of spending cuts and revenue increases aimed at reducing the federal deficit, but not enough to command immediate action by Congress.