A senior manager from Randolph-Brooks Federal Credit Union is slated to tell a House subcommittee how last year’s financial overhaul bill is affecting small business lending.
Mark Sekula, executive vice president and chief lending officer at the $4.3 billion Live Oak, Texas, CU has been asked to testify at a Thursday hearing of the House Small Business Committee’s Subcommittee on Economic Growth, Tax and Capital Access.
Sekula was asked to testify on behalf of NAFCU. There will also be people testifying on behalf of the ABA and the Independent Community Bankers of America.
According to a subcommittee statement, the hearing is aimed in part at discussing how “many financial institutions are facing increased pressure from federal regulators concerned about additional bank failures. This increased pressure has the potential to hamper small business lending since some regulators are taking a disproportionately stringent view of small business lending and loan performance.’’
The hearing is scheduled for 10 a.m. on Thursday. Coincidentally, it is the same time that the Senate Banking Committee is holding a hearing on legislation that would raise the cap on member business loans for credit unions.