WASHINGTON—The Defense Credit Union Council (DCUC) has sent a letter to Chairman Patrick McHenry (R-NC) and Ranking Member Maxine Waters (D-CA) of the House Financial Services Committee urging the HFSC to protect the independence of the National Credit Union Administration.
Jason Stverak
The letter was sent in advance of the Committee’s hearing titled "Oversight of Prudential Regulators."
DCUC stressed that NCUA's independence is essential to maintaining the mission and unique structure of credit unions, particularly those serving military and veteran communities.
While advocating for NCUA’s independence, DCUC said it proposes reforms to enhance NCUA’s effectiveness. These include increasing budget transparency, investing in modernization, adopting a balanced regulatory approach, and enhancing collaboration with the Department of Defense to better support military families.
“As the Committee conducts oversight of prudential regulators, we urge you to recognize the importance of NCUA’s independence and its role in preserving the unique value of credit unions,” wrote DCUC Chief Advocacy Officer Jason Stverak. “By adopting the reforms outlined above, NCUA can continue to provide tailored, effective oversight while supporting the mission-driven focus of credit unions serving communities across the nation.”