America’s Credit Unions board member to testify before House subcommittee

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Karen Harbin, president/CEO of Commonwealth Credit Union—and secretary of America’s Credit Unions Transition Board—will testify before a House Financial Services subcommittee Thursday on behalf of America’s Credit Unions.

During the hearing, Harbin will share how increasing regulatory burdens are hampering credit unions’ ability to serve members, including the CFPB’s recently finalized rule on credit card late fees.

It will also feature discussion of several pieces of legislation, including the credit union-backed Secure Payments Act, introduced Tuesday by Rep. Blaine Luetkemeyer, R-Mo. The bill would halt implementation of the Federal Reserve’s debit interchange proposal until quantitative analysis impact analysis is conducted.

The hearing will take place Thursday, starting at 10 a.m. Eastern, and will be streamed live on the committee’s website.

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