CUNA Engaged with Lending Hearing, CUAC Meeting this Week

WASHINGTON – Both chambers of Congress are in session this week, with a number of hearings on the schedule of interest to credit unions. CUNA will be actively engaged in the hearings, and will send at least one letter for the record.

CUNA’s letter will be sent for the record of a House Financial Services subcommittee on financial institutions and consumer credit hearing titled “The State of Bank Lending in America.” CUNA’s letter will focus on the impact of burdensome regulation on lending.

The hearing is scheduled for Tuesday, at 2 p.m., and will be streamed live on the committee’s Web site.

Other events on the schedule this week include:

  • Tuesday, 9:30 a.m., Senate Banking Committee hearing, "Fostering Economic Growth: The Role of Financial Companies;"
  • Tuesday, 10 a.m., House Oversight and Government Reform Committee markup of the Federal Reserve Transparency Act of 2017 (H.R. 24); the Fair and Open Competition Act (H.R. 1552); the 400 Years of African American History Commission Act (H.R. 1242); and the Fannie and Freddie Open Records Act of 2017 (H.R. 1694);
  • Tuesday, 10 a.m., House Financial Services subcommittee on oversight and investigations hearing titled "The Arbitrary and Inconsistent Non-Bank SIFI (systemically important financial institution) Designation Process;" and
  • Wednesday, 10 a.m., House Financial Services subcommittee on capital markets, securities and investments hearing, "Examining the Impact of the Volcker Rule on the Markets, Businesses, Investors, and Job Creators."

Also this week, the Consumer Financial Protection Bureau’s Credit Union Advisory Council (CUAC) will conduct a meeting. While the agenda has not yet been released to the public, according to the bureau alternative data and consumer access to financial records will be discussed in the public portion of the meeting.

CUNA and several of its member credit unions will be in attendance including Aspire FCU President/CEO Tom O’Shea who is a member of the CUAC.


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