Crews Appears Before Senate Banking Committee

Posted by John Trull on June 25, 2026

On Thursday, John Crews appeared before the Senate Banking Committee for his nomination hearing to serve on the NCUA Board, succeeding Chairman Kyle Hauptman. Drawing on his experience with the Senate Banking Committee, the U.S. Treasury, and federal financial policy, Crews outlined his vision for the agency, if confirmed.

Crews said his top priority would be maintaining the safety, soundness, and resilience of the credit union system while recognizing the unique cooperative structure of credit unions. He emphasized the importance of tailoring regulations to reflect the size and business models of credit unions, particularly smaller institutions with limited resources.

He also highlighted the need for an efficient, effective, and risk-based supervisory approach, allowing NCUA to focus its oversight where it is needed most while reducing unnecessary regulatory burden.

Crews expressed support for building on Chairman Hauptman’s efforts to foster responsible innovation, including the use of artificial intelligence and stablecoins, to improve member service and expand access to financial services for underserved communities.

Crews also identified de novo chartering as a priority, noting that while starting a new credit union is challenging, new institutions strengthen the financial system and help serve emerging and underserved markets.

During the hearing, senators questioned Crews on several issues affecting credit unions, including stablecoins, industry consolidation, NCUA governance, and regulatory support for innovation. Crews noted that credit union deposits grew overall last year despite questions about stablecoin adoption. He also said regulatory burden has contributed to consolidation among smaller institutions and stressed the importance of regulatory tailoring. On innovation, he emphasized that NCUA should support credit unions’ efforts to modernize while ensuring appropriate risk management, particularly around cybersecurity.

Overall, Crews’ testimony reflected a commitment to safety and soundness, practical supervision, regulatory tailoring, responsible innovation, and expanding access through new credit unions. He also emphasized the importance of listening to both the credit union industry and NCUA staff as the agency carries out its mission.

The nomination now moves to the next stage of the confirmation process. Senators may submit written questions, with responses due by July 8, before the committee considers whether to advance the nomination to the full Senate. While confirmation could occur before the August recess, action is more likely after the Senate returns.

GoWest will continue monitoring the nomination process and provide updates as it progresses.

You may watch the full hearing here. 

Posted in Advocacy on the Move, Regulatory Advocacy.