Saying it will be the "start of a robust discussion,'' on the set up of the Bureau of Consumer Financial Protection, House Financial Institutions and Consumer Credit Subcommittee Chairman Shelley Moore Capito announced an oversight hearing next Wednesday.
Capito (R-W.Va.) said the hearing will focus on how the bureau is being set up and what powers it will have on the regulation of consumer financial products.
Though credit unions must comply with regulations issued by the bureau, only three credit unions –those with assets of $10 billion or more—are subject to direct examination by the bureau.
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