Allied Credit Union President/CEO Frank Michael will be one of seven people testifying at the Feb. 17 hearing on the Federal Reserve's proposed rule on interchange fees, the House Financial Services Committee announced today.
Michael, whose $18 million credit union is based in Stockton, Calif., is one of two representatives from a financial institution. The other is Commerce Bank President/CEO David Kemper. There are representatives of merchant groups, the Merchants Payment Coalition, the Federal Reserve and an executive of VISA who are slated to testify as well.
The hearing, which is scheduled to take place at 10:00 a.m. next Thursday, is being held by the House Financial Services Committee's Subcommittee on Financial Institutions and Consumer Credit. It is one of several hearings that the committee is scheduled to hold on the implementation of the financial overhaul bill that Congress passed last year.
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