House Financial Services to Markup Nine Bills, Senate Commerce to Consider Robocall Measure

The House Financial Services Committee today begins a markup of nine bills that cover issues including cybersecurity, mortgage access, student lending, credit scores, and minority depository institutions.

The markup begins at 10:00am and will be streamed live and archived on the committee’s website.

CUNA supports the Self-Employed Mortgage Access Act (H.R. 2445), which would expand homeownership opportunities for self-employed consumers by allowing financial institutions to rely on standards other than Appendix Q to verify a consumer’s income.

Other bills scheduled to be marked up include:

  • Cybersecurity Disclosure Act of 2019 (H.R. 1731);
  • Private Loan Disability Discharge Act of 2019 (H.R. 4545);
  • Fair Student Loan Debt Collection Practices Act (H.R. 5287);
  • Student Borrowers Protections Act (H.R. 5294);
  • Protecting Your Credit Score Act of 2019 (H.R. 5332);
  • Consumer Protections for Medical Debt Collections Act (H.R. 5330);
  • Ensuring Diversity in Community Banking Act of 2019 (H.R. 5322); and
  • Expanding Opportunities for Minority Depository Institutions (MDIs) Act (H.R. 5315).

Rep. Josh Gottheimer (D-5) introduced H.R. 5332, the Protecting Your Credit Score Act of 2019.

Wednesday, the House Small Business Committee will review the Small Business Administration's (SBA) 504/Certified Development Company (CDC) program. The SBA last week finalized a rule to streamline CDC corporate governance requirements which should bolster credit unions' 504 lending to members.

Also Wednesday, the Senate Commerce Committee will markup more than a dozen bills including one related to robocalls, the Data Analytics Robocall Technology Act or the DART Act of 2019 (S. 2204).

The markup begins at 10:00am and will be streamed live and archived on the committee’s website.

As Congress continues working on various proposals to curb illegal robocalls, CUNA and the state leagues continue to urge lawmakers to protect credit unions' ability to communication with members for legitimate purposed such as in the event of data breach or suspected fraudulent account activity.