April 28, 2014

Hearings ahead on financial literacy, business capital

April 29, 2014 – NAFCU lobbyists this week will be monitoring hearings examining the impact of technology on financial literacy and legislative proposals to enhance capital formation for companies.

Both hearings will be held by subcommittees of the House Financial Services Committee.

On Wednesday, the Subcommittee on Financial Institutions and Consumer Credit will hold a hearing titled "Examining How Technology Can Promote Consumer Financial Literacy." This hearing will feature of panel of witnesses including Visa, the Government Accountability Office and Intuit, among others. The focus of the hearing will be on new mobile technology and how it impacts consumers' financial decision making.

On Thursday, the Subcommittee on Capital Markets and Government Sponsored Enterprises is holding a hearing titled, "Legislative Proposals to Enhance Capital Formation for Small and Emerging Growth Companies, Part II." The first hearing in the series was held earlier this month. NAFCU will monitor this hearing for any potential impact on credit unions.

Also this week, the Senate Banking Committee is due to approve presidential nominee Mark McWatters to the NCUA Board and mark up the Johnson-Crapo draft bill on housing finance reform. The Senate Judiciary Committee may also address S.1720, a patent reform measure, on Thursday during its business meeting.