Congress should consider giving the NCUA more flexibility to write rules to provide regulatory relief and allow credit unions to offer more services, Acting NCUA Chairman J. Mark McWatters told the Senate Banking Committee Thursday.
And he told the committee that he opposes a plan by the Trump Administration to eliminate the Community Development Financial Institution program.
The regulatory burdens that credit unions face are particularly acute at small financial institutions, McWatters said. He said rules should be written to take into account the size and type of financial institution being regulated.
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