Can I Have a Witness?
Posted by Anthony Demangone
As you are aware, Chairman Barney Frank (D-MA) and Congresswoman Carolyn Maloney (D-NY) introduced legislation to move up the effective date for pretty much all of the remaining provisions of the Credit CARD Act to December 1, 2009.
Today, I have the honor of testifying before the House Committee on Financial Services. The Committee is holding a hearing on this legislation, as well as a bill that addresses interchange issues. My job is to give them our side of the story. You can actually download my written testimony watch the hearing live here. In short, I will do my best to underscore all the work that you all are doing, and how moving up the Credit CARD Act effective dates would create enormous problems for compliance shops. I will carry the conversations I've had with many of you with me when I enter the hearing room.
Wish me luck.