WASHINGTON–With the exception of two hearings of interest to credit unions, beyond the general concerns that some threatening language might be added to a bill, there is little of specific concern getting attention from credit unions on Capitol Hill this week.
There are several bills in the House related to everything from tax relief to border reform to the consequences for Social Security fraud on the agenda, but unless language is inserted or amendments added, none of the bills have much bearing on credit unions.
The Senate agenda is primarily filled with judicial nominees.
Greg Mesack of America’s Credit Unions said the trade group will continue to monitor any movement related to the Credit Card Competition Act, as well as any new activities around credit card fees and overdrafts, both of which the CFPB has tackled in recent weeks.
Hearings of Interest
Several hearings could have some bearing on credit union activities, including:
- Today. House Energy and Commerce Committee hearing, “Oversight of the Inflation Reduction Act’s Greenhouse Gas Reduction Fund.” As CUToday.info has been reporting and as Mesack noted, the Greenhouse Gas Reduction Fund does include a substantial pot of money financial institutions can use to support green investments, such as in more energy efficient homes. Inclusiv has been particularly active in looking to build CU capacity in leveraging the fund.
- Jan. 31. Senate Committee on Banking, Housing and Urban Affairs hearing titled, “Artificial Intelligence and Housing: Exploring Promise and Peril.”
- Feb. 1. Senate Committee on Banking, Housing and Urban Affairs hearing titled, “Examining Scams and Fraud in the Banking System and Their Impact on Consumers.”
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