WASHINGTON—Credit unions should expect more activity on Capitol Hill this week as the House is back from recess, with CUNA saying it will have its eye on several key hearings it is monitoring.
Jason Stverak, CUNA deputy chief advocacy officer for federal government affairs, said the trade association will be following the Senate Banking Committee hearing today—New Consumer Financial Products and the Impacts to Workers, which begins at 10 ET.
On Wednesday CUNA will be watching the House Financial Services Committee’ hearing—When Banks Leave: The Impacts of De-Risking on the Caribbean and Strategies for Ensuring Financial Access, which begins at 10 ET.
Stverak added CUNA will also follow the Senate Banking Committee’s hearing on Thursday on the Oversight of the U.S. Securities and Exchange Commission, which starts at 10 ET.
Happy to See New Guidance
Separately added that CUNA was pleased to see the Community Development Financial Institutions Fund recently shared supplemental guidance information related to the CDFI cure period—including a list of frequently asked questions.
“We continue to encourage the fund to provide as much leniency as possible as credit unions try to meet these deadlines,” said Stverak.
Primaries Update
Meanwhile, with state primaries taking place in three states this week—Delaware, New Hampshire and Rhode Island– Credit Union Legislative Action Council (CULAC) and the Cooperative Credit Union Association (CCUA) are reporting that the eight credit union-friendly candidates who received CU support in their primaries last week won their races.
CULAC and CCUA said they supported the following candidates across Massachusetts:
- Democrat and Chairman of the House Ways & Means Committee, Rep. Richard Neal won in the 1st District.
- Democrat Rep. Jim McGovern won the 2nd District and is currently Chairman of the House Committee on Rules.
- House Assistant Speaker Katherine Clark, democrat, won the 5th District.
Other notable wins include Rep. Lori Trahan (R-03), Rep. Jake Auchincloss (D-04), Rep. Seth Moulton (D-06), Rep. Stephen F. Lynch (D-08), and Rep. William R. Keating (D-09), CULAC and the CCUA said.
Both organizations will also be supporting candidates in Delaware, New Hampshire and Rhode Island in their Sept. 13 primaries.
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