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CU Fin. Lit. Efforts Get Senate Audience This Week
WASHINGTON (4/23/13)--Legislators will hear directly from credit unions again this week as Cathy Pace, president of the credit union division of Allegacy FCU, Winston Salem, N.C., discusses financial literacy education before an April 24 Senate Committee on Health, Education, Labor, and Pensions subcommittee hearing.

The Wednesday hearing is entitled "The Economic Importance of Financial Literacy Education For Students."  A copy of Pace's testimony will be available on the Credit Union National Association website once it has been transmitted to the committee.

Garinger High School, Charlotte, N.C., social studies teacher Nicole Lipp; Academic Director for the Global Center for Financial Literacy at The George Washington University Annamaria Lusardi, PhD; National Urban League Vice President Cy Richardson; and Jump$tart Coalition for Personal Financial Literacy representative Curtis Biggs are also scheduled to testify.

Another high-profile hearing will be held on Tuesday, as Consumer Financial Protection Bureau Director Richard Cordray presents his agency's Semi-Annual Report to Congress before the Senate Banking Committee.

On Wednesday, credit unions can look out for:
  • A House Oversight and Government Reform Committee hearing entitled "Broken Promises: The Small Business Lending Fund's Backdoor Bank Bailout." CUNA will submit a statement for the record of this hearing (See April 22 News Now story: House Panel To Study SBLF 'Backdoor Bailout'.);
  • A House Financial Services Committee hearing entitled "Building a Sustainable Housing Finance System: Examining Regulatory Impediments to Private Investment Capital";
  • A House Small Business Committee hearing on the Small Business Administration budget; and
  • A House Financial Services international monetary policy and trade subcommittee hearing on U.S. Contributions to the International Monetary Fund.
The House Ways and Means Committee has set a Thursday hearing on tax reform and residential real estate. (See April 19 News Now story: Camp Announces Tax Hearing On Housing Provisions.)

A House Appropriations Committee financial services hearing on the U.S. Treasury budget and a House Homeland Security cyber security subcommittee hearing on protecting civil liberties and ensuring cyber attack preparedness are also on the Thursday schedule.


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