CUNA details credit union reg burden, patent reform concerns for the record

first_imgThe Credit Union National Association this week has submitted letters for the record of hearings on two key credit union issues.In a letter for the record of today’s House Financial Services Committee hearing, entitled “Who’s In Your Wallet: Examining How Washington Red Tape Impairs Economic Freedom,” CUNA said the ever-increasing regulatory burden that credit unions face makes it more difficult for them to promote thrift and provide credit.Today’s hearing will feature testimony from National Credit Union Administration, Consumer Financial Protection Bureau, Federal Reserve, Federal Deposit Insurance Corp. and Office of the Comptroller of the Currency representatives. The hearing is scheduled to begin at 10 a.m. (ET). (See related story: Reg burden, patent troll hearings on tap this week.)The crisis of increasing regulatory burdens “has contributed to consolidation in the financial services industry and a reduction in the availability of services to consumers and small businesses. New and frequently changing regulations drive costs up for credit unions and their members, making matters worse,” CUNA President/CEO Bill Cheney said in the letter. continue reading » ShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblrlast_img

Published by

Leave a Reply

Your email address will not be published. Required fields are marked *