WASHINGTON (UPDATED: 5:30 p.m. ET, 11/10/11)-- In an unprecedented twist, a credit union representative will be testifying on a community bank regulatory relief measure when Credit Union National Association (CUNA) President/CEO Bill Cheney appears before a Nov. 16 House financial institutions subcommittee hearing on the Communities First Act (H.R. 1697).
The hearing is set to begin at 2 p.m.
H.R. 1697, which was introduced by Rep. Blaine Luetkemeyer (R-Mo.) this spring, would loosen some community-bank related regulations.
CUNA Senior Vice President of Legislative Affairs Ryan Donovan noted CUNA in recent years has frequently been asked to comment on many issues that impact the larger financial services market, including the Dodd-Frank Act, mortgage market reforms, and internet gambling legislation.
Academics and financial services industry insiders are also expected to testify.