Capito Holds Forth on Interchange, Other Issues
These have included the Federal Reserve’s proposed rule regulating debit interchange fees, the new bureau that will regulate consumer financial products and the safety and soundness of financial institutions.
Capito, who chairs the House Financial Services Committee’s Subcommittee on Financial Institutions, has been in Congress since 2001. She recently sat down with Credit Union Times to discuss some of the issues on the committee’s agenda.
CU Times: Any other changes?
Capito: We will put forward legislation to change the number of votes on the regulatory council to overturn a bureau decision from two-thirds to a majority. Also, I am concerned that we still don’t have a director nominated, and if we don’t have one soon. we may start the bureau without a permanent director and that would be a bad position to be in.