WASHINGTON—More than 300 credit union representatives will be in Washington this week as part of NAFCU’s Congressional Caucus and to meet with representatives.
The credit union delegation is arriving at the same time Congress is wrestling with a number of issues, including funding the government, prior to going into recess ahead of the mid-term elections.
Happening this week in the nation’s capital:
- Congressional Caucus– begins today. Credit union representatives will hear from numerous lawmakers, including House Financial Services Committee Chairman Jeb Hensarling (R-TX), Sen. Rand Paul (R-KY) and House Democratic Whip Steny Hoyer (D-MD). Also on tap as a speaker to the meeting will be journalist Bob Woodward, whose new book, “Fear,” has garnered significant media attention with its focus on the inner workings of the Trump Administration.
- Another tax reform bill from House Ways and Means Committee Chairman Kevin Brady (R-TX) is anticipated to be introduced with a mark-up possible later in the week. The bill is expected to deal primarily with savings-related tax breaks and individual tax cuts. NAFCU said it is engaged to ensure credit unions' federal tax exemption is not affected in this second round of tax reform.
- A data security bill was introduced last week by House Financial Services Committee member Blaine Luetkemeyer (R-MO), who is set to speak at Congressional Caucus Friday. It would require data breach notifications for financial institutions.
- The Senate Banking Committee on Thursday will hold a hearing on the implementationof the Economic Growth, Regulatory Relief, and Consumer Protection Act (S. 2155). NCUA Chairman J. Mark McWatters is slated to testify, along with leaders from the Office of the Comptroller of the Currency (OCC), Federal Reserve Board of Governors and Federal Deposit Insurance Corporation (FDIC).
Also happening this week:
- NAFCU's Legislative and Regulatory Committees will meet in-person Tuesday and Thursday, respectively, during Congressional Caucus.