WASHINGTON–The House and Senate are both back in Washington this week to begin a lame duck session that will include testimony before two different committees by NCUA Chairman Rodney Hood and other financial regulators.
Today Hood will appear before the Senate Banking Committee, and on Thursday he and other members of the Federal Financial Institutions Examination Council (FFIEC) will also address the House Financial Services Committee.
CUNA’s chief advocacy officer, Ryan Donovan, said the trade group is sending letters to Congress this week encouraging an extension of CARES Act provisions relative to credit unions, including provisions related to troubled debt restructurings and NCUA’s Central Liquidity Facility.
CUNA also continues to encourage Congress to make the PPP loan forgiveness process simpler.
But as Donovan reminded, it isn’t just credit unions trying to catch the ear of Congress.
“During the lame duck the to-do list for Congress is substantial,” said Donovan, pointing to discussion related to another COVID-related stimulus/relief package, reauthorization of the national Defense Authorization Act (NDAA), and extending the funding for the government.
Also in Washington
CUNA’s Trey Hawkins said 97% of candidates backed by the Credit Union Legislative Action Committee (CULAC) in the just-concluded election won their races.
Of the 11 races CUNA identified as priorities and in which CULAC and the respective state leagues spent more than $3 million, 10 of the candidates won.
In addition, 35 incoming freshman members of the 117th Congress had the support of credit unions.