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News Now

Washington
CU witness to speak at W. Va. field hearing
WASHINGTON (8/17/12)--Tom Brewer, president of People's FCU, Nitro, W. Va., will address how financial services regulations have impacted his credit union's ability to lend and to serve its members during a Monday U.S. House Financial Services financial institutions and consumer credit subcommittee field hearing in Charleston, W. Va.

The hearing, which will be led by subcommittee leader Rep. Shelley Moore Capito (R-W. Va.), will focus on how regulations impact job growth. The subcommittee in a release said it also plans to explore the effects of excessively stringent federal bank examinations on the ongoing economic recovery.

Brewer will also discuss examination issues and how his credit union's compliance burden has grown during his time at the institution.

City National Bank President Charles Hageboeck, Pendleton Community Bank President William Loving, Mountaineer Mobile Homes Owner John Wohlever, and Mountain State Justice Inc. Attorney Sarah Brown are also scheduled to testify. The hearing is scheduled to begin at 11 a.m. ET.

The hearing is one of many held to gauge the local impact of federal financial regulations and federal regulator examinations. The subcommittee earlier this year held field hearings in San Antonio, Texas, and Cleveland, Ohio, on the impact of regulations and small financial institutions. Maria Martinez, president/CEO of Border FCU, Del Rio, Texas, and Robert Glenn, president/CEO of Air Force FCU, San Antonio, testified at the Texas hearing, and Stan Barnes, president/CEO of Canton, Ohio-based CSE FCU, testified in Cleveland.
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