WASHINGTON — CUNA is preparing testimony to present before the House Financial Services Subcommittee on Domestic and International Monetary Policy, Trade and Technology for an April 2 hearing which promises to examine the impact of a law meant to reign in American participation in gambling over the Internet.
Regulations being prepared to implement the law would impact credit unions across a fairly wide variety of transaction channels and require them to block transactions from firms involved in gambling over the Internet. CUNA has called for a moratorium on the law's implementation until methods can be investigated which will enforce it without burdening financial institutions.
Harriet May, Secretary of CUNA's Board of Directors and CEO of GECU in El Paso, Texas will testify for CUNA.
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