Credit union witnesses will testify before two Housesubcommittees Thursday that address CFPB reform and regulatory burden.

At 10 a.m., the Small Business Subcommittee will question apanel that includes Linda Sweet, president and CEO of the $57million Big Valley Federal Credit Union of Sacramento, Calif.Sweet, a NAFCU witness, will share the trade's views on theregulatory impact on small institutions.

At 2 p.m., Lynette Smith, president and CEO of the $90 millionWashington Gas Light Federal Credit Union of Springfield, Va., willtestify before the Financial Institutions and Consumer CreditSubcommittee regarding CFPB reform.

Also a NAFCU witness, Smith will discuss the trade's proposalsto change CFPB structure, the Financial Stability OversightCouncil's ability to veto CFPB rules and the protection ofsensitive data collected by the CFPB.

Smith testified before the House's Oversight and InvestigationsSubcommittee in July 2012 regarding compliance burden, saying shewould have to hire a full-time compliance officer to keep up withnew regulations. In response to a question from Rep. Jim Renacci(R-Ohio), Smith also said rising compliance costs could forceWashington Gas Light to increase fees to members.

The Financial Services Committee has not yet released moreinformation regarding the location of the hearings, additionalwitnesses or whether the hearings will be broadcast online.

CUNA said Monday it will not have witnesses at the hearings, butthe trade will submit statements for the record.