WASHINGTON–The credit union trade groups are watching a number of events and hearings in Washington this week.
Among those events are:
- The CFPB is hosting the first in a series of symposia it has planned, with today’s focus on the “abusive” prong of unfair, deceptive acts or practices (UDAAP). The CFPB said it will livestream the event.
- Today, the House Committee on Energy and Commerce Subcommittee on Communications and Technology will hold a hearing on robocalls.
- Also today, there will be a Senate Banking Committee hearing on whether the government-sponsored enterprises (GSEs), Fannie Mae and Freddie Mac, should be designated as systematically important financial institutions.
- Today the U.S. House Committee on the Judiciary will hold a hearing on “Oversight of Bankruptcy Law and Legislative Proposals.”
- On Wednesday, the House Financial Services Committee Task Force on Financial Technology will meet to discuss oversight of the FinTech revolution.
- On Wednesday, the Small Business Administration (SBA) is set to host an Office of Advocacy teleconference to discuss the Department of Energy's proposed rule on modifications to the interim waiver process for test procedures.
- On Wednesday, the Senate Committee on Small Business and Entrepreneurship will hold a hearing to examine the reauthorization of the SBA's small business investment company program.
- On Wednesday, the House Financial Services Committee’s Task Force on Artificial Intelligence will hold a hearing on “Perspectives on Artificial Intelligence: Where We Are and the Next Frontier in Financial Services.”
Also Being Watched
CUNA’s chief deputy advocacy officer, Eli Joseph, said the association this week will also be watching progress on HR 3351,the Financial Services and General Services Act, as well as activity on appropriations bills, including the National Defense Authorization Act, which is still being debated in the Senate. That legislation could affect credit union/bank lease agreements and access to military bases.
On Thursday, members of NAFCU's regulatory affairs and compliance teams will also meet with the CFPB on assessing the TILA-RESPA Integrated Disclosure (TRID) rule. The Bureau recently released its first set of frequently asked questions (FAQ) on TRID as it applies to construction loans. NAFCU reminded it has various resources on TRID available here.