Banks Have Their Say On Regulatory Burden Today
Four banking industry witnesses are slated to testify in today’s House Financial Services subcommittee hearing on regulatory burden as the panel continues its examination of Dodd-Frank Act impact on small community-based institutions.
The hearing, slated for 10 a.m., is being held by the House Financial Services Subcommittee on Financial Institutions and Consumer Credit, chaired by Rep. Shelley Moore Capito, R-W.Va. It is the second hearing led by Capito in as many weeks on the burdens faced by community-based institutions.
Last week, NAFCU witness Bob Burrow, president and CEO of Bayer Heritage FCU in Proctor, W.Va., testified alongside two other credit union industry witnesses on credit unions’ need for relief from burdensome rules that are taking time and resources away from their efforts to serve their members. Also testifying were Pamela Stevens, president and CEO or Security One CU, on behalf of CUNA; and Mitchell Reiver, general counsel of Melrose CU.
Rep. Gary Miller, R-Calif., has pledged to offer legislation that would further several elements of NAFCU’s five-point plan for regulatory relief.
Today’s banking witnesses are:continue reading »