NAFCU's Director of Regulatory Compliance Anthony Demangone is scheduled to testify at tomorrow's House Financial Services Committee hearing in opposition to two measures on credit cards, the association announced today.

Demangone will testify against a bill that would move up the implementation of the Credit CARD act from next Feb. 22 to Dec. 1, a move the financial services industry contends would create an additional regulatory burden. He will also speak against a bill that would require credit card companies to disclose interchange rates to consumers and businesses and give the Federal Trade Commission the power to review these rates and prohibit practices deemed anti consumer or anti competitive.

Earlier this week CUNA and the Electronic Payments Coalition announced that Mark Caverly, executive vice president of Local Government Federal Credit Union in Raleigh, N.C. is scheduled to testify on behalf of those organizations.

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