Congressional Hearing on CUs Moved to Dec. 9, Chairman Matz to Testify

Posted by Marissa Anema Tuesday, December 07, 2010 10:45:00 AM

The Senate Banking Committee hearing on the "State of the Credit Union Industry" has been rescheduled until Dec. 9. NCUA Chairman Debbie Matz will be the sole witness during the hearing.

The hearing was originally scheduled for 2:30 p.m. today.

Sources said that the hearing was moved due to scheduling conflicts, as the impeachment trial of a federal judge and other quorum calls would likely take up much of the time. A Senate banking subcommittee had also scheduled a hearing for Wednesday, so Thursday was the best chance for the hearing to be held.

It has been years since the U.S. Congress has staged a credit union industry oversight hearing and this session is likely to probe the general health of natural-person credit unions, as well as the state of corporate credit unions and NCUA's actions to restore liquidity. In NCUA's assessment, the chairman will give a broad overview of the financial condition of the industry and NCUA's regulatory and supervisory efforts to keep credit unions safe, sound, and continuing to serve consumers.

For more information on the "State of the Credit Union Industry" hearing, visit
http://banking.senate.gov/public/index.cfm?FuseAction=Hearings.Hearing&Hearing_ID=aaf46fac-b6e4-4d61-8d1c-06355e8ba0eb

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