WASHINGTON–One day after appearing before the House as part of a hearing on oversight of financial regulators, NCUA Chairman Rodney Hood was back before the Senate with largely the same message.
In his brief formal remarks, Hood stressed three themes: he and the agency are dedicated to ensuring a safe and sound credit union system; NCUA has sought to provide a regulatory framework that is transparent, efficient, and improves consumer access; and NCUA is focused on organizational performance to enable mission success.
Hood told the Senate credit unions are healthy, with industry capital four percentage points above what is required, and that one-third of Americans now belong to credit unions.
‘Civil Rights Issue’
He said the Share Insurance Fund is more than adequately capitalized to meet any risks, which he said are minimal.
Hood also again stated his support for broader financial inclusion, and again called it the “civil rights issue” of the current generation.
Hood’s full statement to the Senate can be found in CUToday.info’s The Gov here.