Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

Washington
Hearing Today Is 'Step Toward Reg Relief'
WASHINGTON (4/10/13)--Credit Union National Association witness Pamela Stephens takes to the witness table today to urge lawmakers to remove regulatory barriers that impede credit unions' ability to best serve the financial needs of their members.

Today's hearing by the House Financial Services subcommittee on financial institutions and consumer credit is the first of a series planned this year to study, in part, the impact of the Dodd-Frank Act. The credit union hearing occurs one week before an April 16 hearing on bank regulatory issues.

CUNA Senior Vice President of Legislative Affairs Ryan Donovan has said that the April 10 session may be a turning point of sorts for credit unions.

"After dozens of hearings in the last Congress on regulatory burden, the House Financial Services Committee is sending a message through this regulatory relief hearing that they've heard the concerns and they want to hear about solutions," Donovan said when the hearing was announced in late March.

CUNA testified several times in the last Congress regarding the "ever-increasing, never-decreasing" complexity of the regulatory framework within which credit unions must operate.

Today's relief hearing, Donovan added, "hopefully represents the beginning of the process in this Congress to move legislation to provide relief to America's credit unions."

Stephens, who is CEO of $55-million-in-assets Security One FCU, Arlington, Texas, will note that this increased complexity has disproportionately impacted small credit unions.

While noting that creating an exhaustive list of regulatory relief proposals is impossible, Stephens will offer an extensive list of CUNA-backed reforms in her testimony.

Watch News Now for hearing coverage and follow NewsNowLiveWire on Twitter for immediate action updates.

Also, use the link below at 2 p.m. (ET) to listen to the hearing live.
RSS





print
News Now LiveWire
CUNA: CUNA offices closed through Friday, News Now returns Monday http://t.co/a5xbLzQKDj
12 24 ago
Reminder: @CUNA's Madison, D.C. offices will be closed through Friday, open again on Monday. #NewsNow will publish Monday.
12 23 ago
MI dentist to match @CUDirect's $20K to @HurleyMedical as a result of #20for20 online voting http://t.co/hqmIc9LpK1 @CMNHospitals
12 23 ago
New #creditunion chartered in St. Louis - #LutheranFCU - by @TheNCUA http://t.co/faPfANGS0P. Only 3rd new FCU charter this year.
12 23 ago
Don't get hacked during the holidays-use these tips from @CUNA http://t.co/jEqxni6NhO #StoptheDataBreaches http://t.co/woIxPOIyys
12 23 ago