NCUA Board nominee John Crews testifies on Capitol Hill

The Senate Banking Committee heard testimony from NCUA Board nominee John Crews in his nomination hearing yesterday. To consider his nomination, committee members asked questions on what he considers priorities for the industry and what the NCUA under his leadership would look like.

Senator Pete Ricketts, R-Neb., asked Crews about the downward trend in de novo credit unions, particularly in rural communities. Crews described regulatory pressures that keep small institutions from success.

“The top of my list when it comes to being an effective regulator is thinking through how we can tailor our regulations to support the success of our smallest institutions and in particular our rural institutions,” Crews responded.

The Committee is expected to vote next month to advance his nomination to the Senate.

“Thank you to Chairman Scott, Ranking Member Warren, and members of the Senate Banking Committee for holding today's nomination hearing. John Crews’ testimony highlights his experience, knowledge of financial services issues and qualification to serve on the NCUA Board,” said America’s Credit Unions’ Head of Regulatory Advocacy James Akin. “Should Crews be confirmed, he would continue the agency’s efforts to modernize and right-size credit union regulations for the future. Credit unions are a backbone for Main Street; it is no mistake that 146 million Americans rely on credit unions to improve their financial well-being. America’s Credit Unions urges the Committee to quickly advance Crews’ nomination to the Senate floor.”

America’s Credit Unions sent a letter to the committee in advance of today’s hearing. John Crews’ opening remarks and full recording of the hearing are both available online.