Banker–But No CU Official–to Testify at House Competition Hearing

A hearing on consolidation in the financial services industry will feature the perspective of the American Bankers Association, which has warned about the impact of credit unions purchasing banks.

The Sept. 29 hearing of the House Financial Services Committee’s Consumer Protection and Financial Institutions Subcommittee, will not feature a representative of the credit union industry.

House Bill Requires Study on Financial Services Access on Bases

The Pentagon would be required to conduct a study on the availability of financial services on military installations, under an FY22 defense authorization bill approved by the House Armed Services Committee early Thursday.

However, the bill does not require the Department of Defense to provide the same free rent benefits to banks that credit unions now receive—a perennial hot button issue between banks and credit unions.