WASHINGTON–Credit unions have been invited by House Financial Services Subcommittee on Financial Institutions Chairman Andy Barr (R-KY) to testify on March 5 at the subcommittee’s hearing focused on fighting fraud.
The hearing will be held the same week as America’s Credit Unions’ Governmental Affairs Conference. The trade group said a credit union representative will testify on behalf of the association and CUs to share how credit unions how to protect members from fraud and provide policy recommendations.
‘Costs America Billions’
“Fraud is surging and it costs American consumers billions of dollars each year. A collaborative approach to address fraud across all sectors is needed to protect credit unions and the consumers they serve against increased data security threats and attacks,” America’s Credit Unions said in a statement.
Additional Testimony
Separately on Tuesday, ACU’s head of regulatory advocacy, James Akin, will provide the credit union perspective on the IRS proposal implementing car loan interest deduction provisions of H.R. 1.
On Thursday, NCUA Chairman Kyle Hauptman will testify before the Senate Banking Committee Thursday, along with other federal financial regulators
