WASHINGTON—The House this week is expected to consider the Financial Services and General Government Appropriations bill for 2017, and CUNA said it will closely follow proceedings on legislation that impacts the CFPB.
Eli Joseph, deputy chief advocacy officer, said CUNA will be paying special attention to bill provisions it supported that would change the structure of funding sources for the CFPB.
“The bill would also delay implementation of the CFPB’s small-dollar loan rule,” Joseph said.
Also in Congress this week, the House Small Business Committee will hold a hearing on Thursday about the Labor Department’s recently revised overtime rule and its potential repercussions. Both NAFCU and CUNA will follow the proceedings. The committee will hear testimony from representatives of the Job Creators Network, the National Association of Counties and the Economic Policy Institute.
NAFCU has raised concerns about the rule, which the association believes will have a disproportionate impact on credit unions in underserved and non-urban communities.
Joseph noted that on Friday CUNA expects House Speaker Paul Ryan (R-WI) to introduce another blueprint as part of the “A Better Way” reform agenda.
“This one will be on taxes,” said Joseph. “Last week the speaker introduced a blueprint on the economy and included several CUNA-supported initiatives.”