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| Regulators must keep pace with Innovation |
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The House Financial Services subcommittee is scheduled to hear testimony on how the NCUA and other regulators keep pace with technology today. Amanda Parkhill, acting director of NCUA’s Office of Examinations and Insurance, is scheduled to testify.
In advance of the hearing, America’s Credit Unions urged committee members to consider the impact on credit unions of all sizes and the members they serve.
The subcommittee will also discuss draft legislation, the Financial Services Innovation Act of 2026, to establish a financial services innovation office to facilitate the approval of compliance agreements and other no-action-type requests.
America’s Credit Unions supports that and other provisions to “spur the creation of regulatory sandboxes, where participants can obtain advance assurance that enforcement action will not be taken against a product or service that meets minimum supervisory expectations.”
The hearing is available via livestream on the House Financial Services Committee’s website starting at 10 a.m. Eastern.
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