WASHINGTON—Credit unions will be represented in the upcoming Consumer Financial Protection Bureau field hearing on small business lending by Sharon Lindeman, vice president of regulatory advocacy for the California and Nevada Credit Union Leagues.
The May 10 event will also be live-streamed from Los Angeles, where it is being held.
Removing barriers that restrict the ability of credit unions to lend to small businesses is a top advocacy priority for CUNA, which intends to submit testimony for the event.
According to the Bureau, the event will include remarks from Director Richard Cordray, a panel discussion with consumer advocates and industry representatives, and will end with testimony from members of the public.
The hearing is set for 11 a.m. PT/2 p.m. ET). According to the CFPB, the field hearing is expected to address a requirement in the Dodd-Frank Act (Section 1071) that the CFPB to collect information on small business loans made to women- and minority-owned businesses.
NAFCU noted its staff is scheduled to meet with CFPB staff to discuss small business lending issues on May 30.