Affordability concerns facing Alabama families were front and center as U.S. Sen. Katie Britt (R-Montgomery) questioned three federal nominees before the Senate Banking Committee.
Britt, a member of the committee and chair of the Housing, Transportation, and Community Development Subcommittee, questioned nominees for the National Credit Union Administration, Council of Economic Advisers, and Department of Housing and Urban Development inspector general.
Britt first pressed John Crews, nominee to the NCUA, on how credit unions can adopt new technology while remaining safe and sound.
“As financial services continue to evolve and credit unions are adopting new technologies to make sure that they’re meeting their customers’ needs, expanding their digital offerings, and serving increasingly diverse communities in different places, how are you going to make sure that you keep them safe,” Britt asked.
Crews said credit unions need to keep up with consumer demand for new financial products while guarding against cyber threats.
“Consumers expect and need new and innovative financial services products, including new technology,” Crews said. “When it comes to credit unions, many of them are uniquely small and have limited resources.”
He added, “Cyber risk is a serious threat.”
Britt then questioned Jeffrey Ledbetter, nominee for HUD inspector general, on waste, fraud, and abuse in taxpayer-funded housing and community development programs.
“I certainly believe in being able to help people get back on their feet and find their pathway to the American Dream,” Britt said. “What we have seen, though, has been a lot of bloat in certain areas with inefficiencies.”
Ledbetter said he would first meet with HUD professional staff, learn the agency’s programs, and then determine where improvements are needed.
Britt closed by asking Dr. Christopher Phelan, nominee to chair the Council of Economic Advisers, about affordability concerns tied to housing, child care, groceries, and energy costs.
“What are the most important factors driving affordability challenges today, in your opinion, and what policies do you believe can expand economic opportunity for citizens and improve the standard of living for people in the state of Alabama?” Britt asked.
Phelan pointed to employment as the foundation.
“I firmly believe that the best policy for affordability is a good job,” Phelan said. “A good job with good wages and good benefits.”
Britt has also been a strong proponent of improving housing to address affordability concerns, supporting the 21st Century ROAD to Housing Act.
Sawyer Knowles is a state and political reporter for Yellowhammer News. You may contact him at [email protected].
