WASHINGTON–Like much of the rest of the country and other advocacy groups in the capitol, credit unions are watching to see how committee assignments and chairmanships play out this week.
After the delay in electing a House speaker, House Republicans are now taking over from the Democratic leadership in the prior this week are making committee assignments, including the critical leaders of those committees who will play the primary role in setting agendas.
Among the biggest changes expected in financial services is much stronger review of the Consumer Financial Protection Bureau (CFPB) under the GOP.
The fact little action beyond sorting things out is expected in the House this week—and with the Senate adjourned through the Martin Luther King holiday—does not mean credit unions are not active on Capitol Hill, said Jason Stverak, deputy chief advocacy officer with CUNA.
‘Aggressively Reaching Out’
“We are working to clean up some of the old business, such as the Board Member Modernization Act and the CLF,” said Stverak. “We are aggressively reaching out to and talking with regulators in terms of their priorities and the issues they will advance in the next few months. Obviously, at the top of that list is the CFPB and its continued obsession with the junk fees issue. We will continue to be a strong voice against these actions. We believe credit unions as member-owned institutions have the right solutions.”
Don’t Forget the Senate
NAFCU’s VP-Legislative Affairs Brad Thaler said that trade association is also paying close attention to the committee assignments and chairs, especially the House Ways & Means committee chairmanship.
In addition, Thaler said the other side of Congress also deserves attention, as while the Democrats have retained Senate control, there will still be some changes occurring.
“We're also expecting that Senate committees will be named and be clarified by the point they come back,” said Thaler. “The beginning of Congress is always kind of a slow time as things organize. This (session) is a little more delayed than others, but things seem to be on track and we'll be watching for what kind of plays out here. (When) the committees are set up they kind of set the agenda and what to expect, and we should be down to work by the end of the month in terms of hearings and what's going to happen going forward.”
CUNA Names New Director of Advocacy
Separately, CUNA has named Clement Abonyi, Jr. as its newest director of advocacy. Abonyi will help manage the association’s relationships with Democrats on a variety of key advocacy issues, the association said.
Abonyi previously served as chief of staff to House Financial Services Chairwoman Maxine Waters (D-CA) and has also worked with the Democratic Congressional Campaign Committee, U.S. Treasury, and the House Financial Services Committee.
“We’re very excited to welcome Clement aboard as CUNA, leagues, and credit unions look to make an immediate impact in the new Congress,” said Stverak, “Clement has a demonstrated record of engagement and strong policy work and is ready to hit the ground running as we look to advance credit union priorities on Capitol Hill.”
Abonyi served as a day-one political appointee in the Biden Administration at the U.S. Treasury Department as special assistant in the Office of Legislative Affairs where he managed relationships between Treasury and Congressional offices and played a role during the confirmation of Deputy Treasury Secretary Wally Adeyamo.
A first-generation American born to deaf immigrants, Abonyi received his bachelor’s degree from The American University School of Public Affairs and is a native of South Norwalk, Conn.
Buddy Gill Retiring
In addition, long-time credit union advocate Buddy Gill is retiring.
Gill has spent more than 25 years representing credit unions, the last five as a CUNA engagement consultant. During his career, Gill also held positions with the Texas Credit Union League (now Cornerstone league) and NCUA.
Gill will reside in Austin, Texas.
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