Credit unions have two industry representatives on the agenda Wednesday at the House Financial Institutions Subcommittee’s hearing on compliance burdens for small institutions.
Ed Templeton, president/CEO of the $630 million SRP FCU in North Augusta, S.C., and treasurer of NAFCU, will represent the trade association at the hearing. Terry West, president/CEO of the $4.7 billion VyStar CU in Jacksonville, Fla., will testify on behalf of CUNA.
The hearing, titled “Rising Regulatory Compliance Costs and Their Impact on the Health of Small Financial Institutions,” is scheduled for 10 a.m. and can be watched live via webcast from a link on the Financial Services committee’s website.
Subcommittee chair Rep. Shelley Moore Capito (R-W.Va.) and the panel’s ranking member Rep. Carolyn Maloney (D-N.Y.) co-authored HR 3461, the Financial Institutions Examination Fairness and Reform Act.