WASHINGTON—After a two-week recess, the House and Senate are back in session this week.
NAFCU said it is paying attention to a number of key credit union issues, including progress being made by a conference committee on FY 2020 National Defense Authorization Act. That conference committee is deciding upon language that could give banks the same access to military bases that credit unions currently have, a move that has been strongly opposed by the CU trade groups.
Separately, both CUNA and NAFCU said they will be paying attention to testimony by CFPB Director Kathy Kraninger, who will provide an update on the Bureau's efforts to the House Financial Services Committee and Senate Banking Committee today and Thursday, respectively.
As CUToday.info reported here, the CFPB has just announced it is establishing a task force to “examine ways to harmonize and modernize federal consumer financial laws.”
The CFPB said it is also pursuing efforts to increase innovation in the financial services marketplace.
The Hearings Agenda
A number of House Financial Services subcommittees will also hold hearings throughout the week to:
- Examine corporate priorities, specifically related to the impact of stock buybacks
- Promote inclusion and diversity in America's workforce
- Evaluate cloud computing, including how financial data is stored, protected, and maintained
Also On Agenda
Also happening this week:
- The Financial Accounting Standards Board (FASB) today is set to discuss its proposed delay – until 2023 for credit unions – to the current expected credit loss (CECL) standard;
- Today NAFCU is hosting a webinar on 10 leading ways to engage employees, and will host a webinar on Thursday on probing questions to ask during risk review
- Today, the House Small Business Committee will hold a hearing on challenges facing the Small Business Administration and another one Thursday on the impact of opportunity zones