WASHINGTON–A number of congressional hearings of interest to credit unions are on the agenda this week, including one hearing at which a credit union executive will testify.
Gail Jansen, vice president of business services and operations at Kinecta FCU in California, will testify on behalf of NAFCU on Wednesday before a House Small Business subcommittee on the Small Business Administration's (SBA) 7(a) loan program. NAFCU’s Carrie Hunt, EVP and general counsel, told CUToday.info the trade group has consistently worked with the SBA to increase the credit union presence in small business lending.
CUNA’s Eli Joseph noted the trade group will be watching progress this week on HR 2021, the Investing in People Act of 2019 (which is related to caps on federal spending); HR 1957, the Taxpayer First Act (which seeks to update the IRS’ IT systems), and HR 1644, the Save the Internet Act of 2019 (which seeks to restore net neutrality).
Also of Interest to CUs
Also of interest this week:
- Today, a House Financial Services subcommittee will examine the Community Reinvestment Act (CRA). Both trade groups have pushed back strongly against pulling credit unions under the CRA umbrella.
- Also today, Treasury Secretary Steven Mnuchin will provide the House Financial Services Committee with an update on the international financial system during a 2:00 p.m. ET hearing
- On Wednesday, the House Financial Services Committee will hold a hearing titled “Holding Megabanks Accountable: A Review of Global Systemically Important Banks 10 Years After the Financial Crisis.” (CUToday.info has been running a series in which credit unions look back on the financial crisis and the conservatorship of five corporate CUs.)
- On Wednesday, the Senate Finance Committee will discuss the tax filing process and ways to modernize the IRS.
- On Thursday, a Senate Commerce subcommittee will examine ways to eliminate illegal robocalls. The full committee recently advanced legislation targeting robocalls; NAFCU noted it has stressed the importance of protecting credit unions' ability to contact members with important financial information.
Webinar on Online Loan Apps
- NAFCU is offering a webinar Thursday detailing issues that may arise when credit unions solicit and accept online loan applications.