Feb. 14, 2019

CONTACT: Shelton Roulhac, NASCUS Communications; sroulhac@nascus.org

LUCY ITO ON THE NOMINATION HEARING FOR NCUA BOARD MEMBER NOMINEES, TODD HARPER AND RODNEY HOOD, AND DIRECTOR OF FHFA DIRECTOR NOMINEE, MARK CALABRIA

ARLINGTON, Va. – This morning, the Senate Banking Committee held a Nomination Hearing for NCUA Board Member nominees, Todd Harper and Rodney Hood, and Director of the Federal Housing Finance Agency nominee, Mark Calabria.

NASCUS President and CEO Lucy Ito issued the following statements on today’s Nomination Hearing:
  
On Todd Harper’s nomination to the NCUA Board
“NASCUS was pleased to hear that as an NCUA Board member, Mr. Harper would focus on capital, liquidity and cybersecurity. If he is confirmed, we welcome the opportunity to facilitate collaboration between state credit union regulatory agencies and NCUA to address these issues in a manner that assures safety and soundness, strengthens the dual charter system and protects the autonomy of the state credit union system.”

On Rodney Hood’s nomination to the NCUA Board
“NASCUS shares Mr. Hood’s belief that regulation should be effective but not excessive. Should Mr. Hood rejoin the NCUA Board, we look forward to resuming a positive working relationship with him and continuing to engage with NCUA to right-size the supervision of credit unions, while maintaining the safety and soundness of the credit union system.”

On Mark Calabria’s nomination to Director of the Federal Housing Finance Agency
“NASCUS agrees with Dr. Calabria that we are in a “critical juncture” in housing finance policy. For this reason, if Dr. Calabria is confirmed, we would urge him to consult with the state credit union system and work with Congress to pass legislation that would mandate small lender access to the secondary market. Without such mandate, small lenders such as many credit unions will effectively be shut out of the secondary market, undermining their ability to provide loans and services in already underserved areas.”

The National Association of State Credit Union Supervisors (NASCUS) is the primary resource and voice of the state governmental agencies that charter, regulate and examine the nation’s state-chartered credit unions. NASCUS membership is made up of state-chartered credit unions, state regulators and other supporters of the state credit union system. NASCUS is the only organization dedicated to the defense and promotion of the state credit union charter and the autonomy of state credit union regulatory agencies.