CUNA Engaged with Senate Regulatory Relief Hearing, RBC Bill

CUNA will be engaged with a Senate Banking Committee hearing Tuesday on ways to increase consumer access to capital, the first Senate hearing on regulatory relief proposals following the enactment of S. 2155. Titled “Legislative Proposals to Increase Access to Capital,” the hearing is scheduled to begin at 10 a.m. and will be streamed live.

Congressional leaders have said they will work on additional bipartisan regulatory relief legislation following S. 2155. House Financial Services Committee Chairman Rep. Jeb Hensarling (R-Texas) said in May he hoped to get “pro-growth” legislation to the president’s desk this year. Hensarling is retiring at the end of his current term.

The House is also expected to consider the CUNA/League-supported Foreign Investment Risk Review Modernization Act of 2018 (H.R. 5841). The bill contains a provision to delay implementation of NCUA’s risk-based capital rule by two years, to Jan. 1, 2021. 

Other hearings CUNA is engaged with this week include: 

  • Tuesday, 2 p.m.: House Financial Services sub-committee on financial institutions and consumer credit hearing, “International and Domestic Implications of De-Risking;”
  • Wednesday, 10 a.m.: House Financial Services Committee hearing, “Oversight of the Department of Housing and Urban Development;”
  • Wednesday, 10 a.m.: House Committee on Oversight and Government Reform hearing, “Examining the Administration’s Government-wide Reorganization Plan;” and
  • Thursday, 10 a.m. (ET): Senate Finance Committee hearing to consider the nomination of Charles Rettig to serve as commissioner of the Internal Revenue Service (IRS).