WASHINGTON—With Congress and Washington nearing the “dog days of summer,” legislators are currently gearing up for a “sprint” before the long August recess, according to CUNA.
Deputy Chief Advocacy Officer for Federal Government Affairs Jason Stverak said he expects the Senate will likely process and pass the National Defense Authorization (NDAA) before it adjourns next week.
“It’s now just determining how many amendments will be attached, what will be ruled germane and what will be voted on, et cetera,” Stverak said.
Both CUNA and NAFCU stated they were pleased the House version of the NDAA was passed late last week without any language detrimental to credit unions, including the annual debate over giving access to military bases to banks on the same terms as credit unions.
However, both groups said they are now watching closely for amendments that could be attached to the legislation, most notably Credit Card Competition Act that’s supported by the nation’s retailers.
Lawmakers also continue to work on appropriations bills, including markups today and Thursday on funding for the Department of Housing and Urban Development (HUD).
Last week, both the House and Senate Appropriations Committees advanced their versions of the fiscal year 2024 Financial Services and General Government (FSGG) funding bill.
Other events on the calendar in Washington this week:
Tuesday
- The House Financial Services Subcommittee on Financial Institutions and Monetary Policy will meet to discuss federal financial regulators’ climate-risk efforts.
- The House Financial Services Subcommittee on National Security, Illicit Finance, and International Financial Institutions will review potential consequences of the Financial Crimes Enforcement Network’s (FinCEN) beneficial ownership rulemaking
Wednesday
- The Senate Small Business Committee will markup bills, including several aimed at increasing access to capital, including among veterans
Thursday
- The Senate Banking Committee will discuss possible deposit insurance reforms in the wake of recent bank failures
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