WASHINGTON – CUNA Wednesday underscored the importance that for the first time at a congressional hearing, credit unions will have the stage all to themselves when the House Subcommittee on Financial Institutions & Consumer Credit holds an April 10th hearing on credit union regulatory burden.
CUNA noted that this is breaking new ground. Historically credit unions have had to share the stage with bankers, even at a member business lending hearing in the last Congress.
The credit union hearing is part of a 2013 series to study, in part, the impact of the Dodd-Frank Act, and will take place one week before an April 16th hearing on bank regulatory issues.
CUNA is working to select a witness for the credit union regulatory burden hearing. Additionally, CUNA has communicated routinely with financial services committee staff, providing specific and detailed suggestions for ways to ease the regulatory burden on credit unions. CUNA will elaborate on those ideas at the hearing.
The hearings are expected to be a precursor to a legislative package on regulatory relief with elements addressing the concerns of credit unions and community banks.