WASHINGTON—The U.S. debt ceiling--with its deadline 10 days away--will be the major focus in Washington this week, and it will have the attention of NAFCU, the trade association said.
“We’re watching for what may happen with any debt ceiling package,” said NAFCU Vice President of Legislative Affairs Brad Thaler.
The Senate began a two-week recess Monday, however, Senate Majority Leader Chuck Schumer (D-NY) told members to be ready to return to Washington should they need to vote on a debt ceiling deal.
“We’re waiting to see what happens, and if (legislators) are called back to act on any package. We’re watching for any developments that may occur,” said Thaler.
Meanwhile, the House is in session. The House Financial Services Committee will hold a markup of several bills Wednesday, including the Increasing Financial Regulatory Accountability and Transparency Act and the Middle Class Borrower Protection Act of 2023.
Other events in Washington this week:
Tuesday
- Federal Housing Finance Agency (FHFA) Director Sandra Thompson will testify before the House Financial Services Committee during an oversight hearing at 10 a.m. ET.
Wednesday
- A House Ways and Means subcommittee will discuss ways to combat identity fraud, specifically the role of the Social Security Administration in these efforts
- A House Oversight subcommittee will hold a hearing on recent bank failures and the San Francisco Federal Reserve
- The House Small Business Committee will discuss ways to support veteran-owned small businesses
Thursday
- A House Financial Services subcommittee will hold a hearing to discuss international financial institutions