NCUA Lobbies Hill On UnderservedRule

TORONTO - (07/14/06) – NCUA Chairman JoAnn Johnson hasbeen meeting this week with key lawmakers to discuss several agencyinitiatives, including a request to amend the Federal CU Act sothat all credit unions will be able to add underserved communitiesto their fields of membership. Johnson’s effort comes as NCUAwas forced to restrict the underserved expansions program tomultiple group charters after the American Bankers Association suedto bar community and single-group charters from the underservedprogram. The NCUA Chairman told The Credit Union Journal duringNAFCU’s annual convention that she has received a positivereception from members of Congress, including House FinancialServices Committee Chairman Michael Oxley, Rep. Barney Frank, theranking Democrat on the panel, and Sen. Daniel Akaka, as sheexplains the agency’s efforts to increase creditunions’ capacity to provide services to the neediestAmericans.