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News Now

Washington
CUNA Witness Will Testify On Reg Burden Today
WASHINGTON (12/4/13)--Credit union concerns regarding regulatory burden will be heard when Rose Bartolomucci, president/CEO of Towpath CU, a state-chartered, privately insured credit union in Akron, Ohio, testifies before the House Financial Services subcommittee on financial institutions and consumer credit today.

Bartolomucci is testifying on behalf of her credit union and the Credit Union National Association during the hearing, which is scheduled to begin at 10 A.M. (ET).

The hearing will focus on:
  • A bill to require federal financial regulators, including the National Credit Union Administration and Consumer Financial Protection Bureau, to assess whether proposed rules are duplicative or inconsistent with other federal rules, to take steps to address the duplication or inconsistency, and report to Congress within 60 days of issuing the rules;
  • A CUNA-supported bill that would permit privately insured credit unions to join a Federal Home Loan Bank; and
  • A bill that would adjust the CFPB's rural designation to align with the definition used by the U.S. Department of Agriculture.
Watch News Now for live coverage of today's hearing.


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