WASHINGTON--The House Financial Services Committee passed several credit union-supported bills at its markup Wednesday, reported America’s Credit Unions, which wrote to the committee in support of the bills.
The committee passed:
- Stablecoin Transparency and Accountability for a Better Ledger Economy (STABLE) Act (H.R. 2392), to create a digital assets framework. The bill would allow credit union subsidiaries, including credit union service organizations, to serve as an appropriate subsidiary entity to issue stablecoins. It passed 32-1
- 1071 Repeal to Protect Small Business Lending Act (H.R. 976), to repeal the CFPB’s small business lending data collection rule. It passed 27-22
- Anti-CBDC Surveillance State Act (H.R. 1919), which would bar the Federal Reserve from using a central bank digital currency. It passed 27-22.