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News Now

Washington
CUNA To Testify Wednesday On Duplicative Regs, More
WASHINGTON (12/2/13)--The Credit Union National Association will testify Wednesday on a number of credit union issues, including duplicative and inconsistent federal rules.

Rose Bartolomucci, president/CEO of Towpath CU, a state-chartered, privately insured credit union in Akron, Ohio, will testify on CUNA's behalf before the House Financial Services subcommittee on financial institutions and consumer credit.
 
The hearing will focus on:
  • A bill to require federal financial regulators, including the National Credit Union Administration and CFPB, 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 Consumer Financial Protection Bureau's rural designation to align with the definition used by the U.S. Department of Agriculture.
Rose is a member of the CFPB's Credit Union Advisory Committee. In 1998 she testified before the House Financial Services Committee on the landmark credit union bill, the Credit Union Membership Access Act.


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