WASHINGTON—CUNA and NAFCU will be following a Senate Appropriations Committee markup scheduled Wednesday for the fiscal 2017 financial services and general government funding.
A corresponding measure approved last week by the House Appropriations Committee includes a number of provisions on the CFPB and the FCC’s Telephone Consumer Protection Act rules supported by NAFCU and CUNA.
Both trade associations stated they will monitor the mark-up, as well as the full-committee review on Thursday, looking for any impacts on credit unions.
In addition, CUNA said it will be following several committee meetings on both sides of the Capitol. On Wednesday the House Financial Services Committee will hold a full-committee markup on pending legislation.
“Among the bills they will be considering is CUNA-supported HR 4538, the Senior$afe Act of 2016, which would provide immunity from lawsuits for employees of financial services companies that disclose potential examples of financial exploitation of senior citizens,” said CUNA Chief Advocacy Officer Ryan Donovan. “CUNA has sponsored the House and Senate companions, so we are pleased to see this legislation move to committee.”
Donovan said CUNA will be watching when the Senate Special Committee on Aging Wednesday holds a full committee hearing on innovations to promote Americans’ financial security.
NAFCU said it will also be watching:
- The Senate Finance Committee Wednesday when it looks at the various challenges and opportunities for businesses in today’s digital age.
- Proposed Federal Communications Commission privacy rules when they are examined Tuesday by the House Energy and Commerce Subcommittee on Communications and Technology.
- The Senate Homeland Security and Governmental Affairs Subcommittee on Regulatory Affairs and Federal Management on Thursday when it reviews the rulemaking records of independent regulatory agencies and hears testimony from representatives of the Securities and Exchange Commission, among others.
Also this week, the Federal Open Market Committee meets Tuesday and Wednesday on monetary policy; a statement is slated for Wednesday afternoon and could include hints on the timing of the Fed’s next rate increase, NAFCU noted. The following week, on June 21, Federal Reserve Chair Janet Yellen will deliver the Fed’s semiannual monetary report during a hearing of the Senate Banking Committee.
Separately, NAFCU’s 49th Annual Conference and Solutions Expo kicks off today in Nashville and runs through Friday.