month on a proposal to impose community reinvestment requirements on credit unions, but credit union regulators will not be invited to testify.
The hearing, tentatively scheduled for Sept. 9, will feature testimony by credit union executives and trade group representatives on the need for a low-income member service requirement.
Senate Banking Chairman Phil Gramm, R-Tex., and National Credit Union Administration Chairman Norman E. D'Amours have feuded over the proposal ever since Mr. D'Amours unveiled it last month. Sen. Gramm calls it unnecessary.
Under the plan, scheduled for consideration at the NCUA's Sept. 16 board meeting, credit unions would be required to develop a plan for increasing their services to the poor. Failure to meet those goals could be held against the credit union if it sought the agency's permission to expand membership.
A Senate Banking spokeswoman said the committee would hold an additional hearing if Mr. D'Amours' proposal is approved. But NCUA sources say Mr. D'Amours is unlikely to persuade either of his two fellow board members to vote for the plan.