WASHINGTON–Washington’s credit union advocates will be joining the rest of the country and the world in watching House Republicans today to see whether they can agree on a new Speaker.
A vote is to be held late Tuesday afternoon to fill the void created by the departure of former Speaker Kevin McCarthy (R-CA), who was ousted from the position for the first time in history.
While noting it’s not clear there are sufficient votes for any candidate for the post, CUNA Deputy Chief Advocacy Officer for Federal Affairs Jason Stverak said it is hopeful the GOP can elect a Speaker so the House can return to regular order, hold hearings and process legislation.
The lack of a Speaker has affected the agenda for legislation related to financial institutions, noted NAFCU VP-Legislative Affairs Brad Thaler, as Rep. Patrick McHenry (R-NC), the chair of the House Financial Services Committee, has been serving as Speaker pro tempore in the interim, which has slowed the committee’s work.
In the Senate, Thaler said NAFCU is keeping a close eye on any appropriations measures being advanced.
The Senate, he said, will likely return to the “minibus that has been parked for last couple of weeks. We remain vigilant on (Credit Card Competition Act being inserted in) this bill or any other appropriations or packages they may target on the Senate floor.”
Hearings This Week
In the meantime, both Stverak and Thaler said they will be paying attention to two hearings in the Senate this week:
- Thursday: Senate Banking Committee hearing on nominations, including Tanya Otsuka to be a member of the NCUA board. The hearing will also involve nominations for Mark Uyeda to be a member of the Securities and Exchange Commission; Spencer Bachus III to be a board member the Export-Import Bank; Jennifer Fain to be Inspector General with the FDIC; Claudia Slacik to be a director of the Securities Investor Protection Corporation; and William Brodsky to be a director of the Securities Investor Protection Corporation.
- Thursday, Banking, Housing and Urban Affairs hearing to examine community development financial institutions and promotion of housing and economic opportunity.
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