WASHINGTON—Congress returns this week from its Fourth of July recess for a three-week work period during which much is on the agenda, but with the credit union trade groups particularly focused on National Defense Authorization Act (NDAA).
The House and Senate are scheduled to take up their versions of the NDAA later this week, with NAFCU noting a large number of amendments to the NDAA have been filed by the House Rules Committee.
The NDAA has become an annual tug-of-war between credit unions and banks, with the latter seeking equal access to military base leases for their branches as currently enjoyed by credit unions.
“As in the past we expect some amendments will get individual votes, some will be considered in block, but we're watching for any developments and issues that impact credit unions,” said NAFCU VP of Legislative Affairs Brad Thaler.
NAFCU said it is also watching the appropriations process, as that continues to play out.
“Particularly, the Financial Services and general government appropriations bills,” Thaler said. “The Senate is set to bring its bill to committee this week,” said Thaler. “We’re also watching what comes out the CDFI fund and the appropriations committees.”
Other events this week in Washington:
Wednesday
- The Senate Small Business Committee holds a markup that includes several bills aimed at increasing access to capital, including among veterans
- Also in the Senate, the Senate Banking Committee holds a hearing on bank mergers and the economic impact of a consolidating financial services marketplace
Thursday
- The Senate Appropriations Committee will mark up its version of the Financial Services and General Government (FSGG) bill
- The House Small Business Committee will explore a report from the Small Business Administration’s Inspector General on pandemic-related fraud
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