WASHINGTON—Credit unions in Washington have joined everyone else in watching their agendas put on hold as they await unsettled situation involving the vacancy in the Speaker of the House to be resolved.
CUNA Deputy Chief Advocacy Officer for Federal Affairs Jason Stverak noted House Republicans have scheduled numerous meetings as they attempt to elect a new Speaker to replace Rep. Kevin McCarthy (R-CA), who was ousted from the job for the first time in history.
Once a new Speaker is elected, what’s known as “regular order” can return and the House should be able to return to its business.
Until the “uncertainty” is taken care of, there will be no there are no major committee hearings taking place or major pieces of legislation moving forward, Stverak said.
“We're kind of in a hurry up and wait mode,” said Stverak.
Seeking Low Profile
NAFCU VP-Legislative Affairs Brad Thaler noted the Republican conference will be looking to keep deliberations over the new Speaker private to avoid the public spectacle that surrounded both the selection of McCarthy and his forced departure.
Meanwhile, the role of Rep. Patrick McHenry (R-NC), who is essentially acting a leader of the House, isn’t well determined, and world events, including the war taking place in Israel, are also overshadowing what would otherwise be taking place in Washington.
“What the House can do in the meantime is still an open question, and when exactly the House will come back to actually cast the speaker vote on the floor is uncertain,” said Thaler.
Groups Still Hiking the Hill
With the House attempting to get things fixed, the Senate is out this week.
In the meantime, Stverak said various state credit union associations continue to make Hill visits on behalf of legislation credit unions both oppose—the Credit Card Competition Act—and favor—the board modernization bill.
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