April 04, 2013

Reg relief, FHA hearing notices posted

April 4, 2013 – The House Financial Services Committee posted notices Wednesday of two planned hearings for April 10, one addressing credit unions' regulatory burdens and the other looking at reform of the Federal Housing Administration.

Bob Burrow

During "Examining Credit Union Regulatory Burden," set for 2 p.m, NAFCU witness Bob Burrow will testify on credit unions' regulatory compliance burdens and the need to enact the reforms offered in NAFCU's five-point regulatory relief plan. Burrow is president and CEO of Bayer Heritage FCU in Proctor, W.Va. The hearing will be held by the House Financial Services Subcommittee on Financial Institutions and Consumer Credit, which is chaired by Rep. Shelley Moore Capito, R-W.Va.

The FHA hearing, scheduled for 10 a.m., is in the House Financial Services Subcommittee on Housing and Insurance, chaired by Rep. Randy Neugebauer, R-Texas. The hearing is titled "Sustainable Housing Finance: Perspectives on Reforming the FHA."

NAFCU supports ensuring the FHA a continued role in housing finance but has urged Congress for greater oversight of the agency.

Congress is on recess through the week, and NAFCU is encouraging credit unions to contact their lawmakers in their home districts to seek support for NAFCU's five-point plan.

To send an email on three bills offered so far that would achieve parts of the plan – H.R. 688 on member business lending, H.R. 719 on supplemental capital and H.R. 749 on privacy notice requirements – visit NAFCU's online grassroots action center.