Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

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.
Other Resources

RSS print
News Now LiveWire
Economic activity slowed in June, according to the #Chicago Fed's national activity index, released today #Market http://t.co/1pN6peM8my
12 hours ago
Money burns a hole in workers' pockets after payday, despite best intentions via @WSJeconomy http://t.co/A9SNiUdf9v
13 hours ago
"SAR Stats," new from #FinCEN, focuses on #bitcoin. See #NewsNow http://t.co/vS7iTwY2SW
14 hours ago
.@CFPB now accepts consumer complaints on prepaid cards, debt settlement services, credit repair services, and pawn and title loans.
15 hours ago
.@WellsFargo to process transactions in order received, not high to low http://t.co/g0jWJoegoJ
15 hours ago