WASHINGTON—Elizabeth Osborn, chief operating officer of Great Lakes Credit Union in Illinois, will testifybefore a House committee today as part of a hearing titled, “AI Innovation Explored: Insights into AI Applications in Financial Services in Housing.”
Also testifying will be:
- John Zecca, EVP-global chief legal officer with NASDAQ
- Ondrej Linda, director of personalization AI with Zillow
- Frederick Reynolds, deputy general counsel and chief compliance officer with FIS Global
- Vijay Karunamurthy, chief technology officer with Scale AI
- Lisa Rice, president and CEO with the National Fair Housing Alliance
The hearing will begin at 10 a.m. and can be viewed here.
DCUC Urges Committee to Move Bill
Separately, the Defense Credit Union Council (DCUC) has sent a letter to Congress ahead of a hearing on veterans and business by the Contracting and Infrastructure Subcommittee of the House Committee on Small Business in which it expresses its support for changes in the MBL cap on credit unions.
In conjunction with the hearing titled “Leveling the Playing Field: Examining the Landscape of Veteran Owned Small Businesses," DCUC urged the Subcommittee to support legislation that addresses barriers it said are currently hindering veterans from accessing small business loans.
“Central to any discussion of the landscape of veteran-owned small businesses must be the unfair and arbitrary business member loan cap of 12.25% that is placed on credit unions hindering their ability to serve veteran-owned small businesses,” DCUC Chief Advocacy Officer Jason Stverak said in a statement. “We would encourage the committee to support the bipartisan bill, H.R.4867, the Veterans Member Business Loan Act.”
DCUC further told the committee that removing the current business loan cap would stimulate economic growth and do so without taxpayer expense, and emphasized defense credit unions’ “unique ability to support veterans transitioning to the private sector, particularly when starting small businesses.”
‘Uniquely Positioned’
“America’s Defense Credit Unions are uniquely positioned and structured to provide this additional support in the communities where we work, live, and play,” the letter states. “It is our hope to provide veterans and their families access to the capital they need to get their small businesses off the ground and help them provide payroll, rent, and other essential business functions."