WASHINGTON–The House and Senate are back in session, but it may not be for long. Ryan Donovan, CUNA’s chief advocacy officer, said leadership of the lame duck session appears to be “positioning to make an early exit.”
But until Congress adjourns he said the trade group is monitoring a number of issues, including passage of a continuing resolution to fund the government and any legislation that may be attached to it. On Wednesday the Senate Special Committee on Aging will hold a hearing on financial abuse of the elderly, which Donovan called “timely,” as CUNA has been pressing the Senate to pass the Senior SAFE Act, which gives employees of financial institutions safe harbor when reporting any suspicions of financial abuse. The House version of the legislation has already passed.
Also in Washington this week:
- Members of CUNA’s Consumer Financial Protection Committee are in Washington to meet with NCUA and the CFPB on numerous issues, including military lending, payday lending, and implications of HMDA rules.
- CUNA is filing a comment letter with the Federal Housing Finance Agency (FHFA) regarding its promulgation of rules around allowing privately insured credit unions and access to the FHLB. While supportive of the FHFA proposal, CUNA is suggesting that the rule be tweaked to allow privately-insured CUs that are rated CAMEL 1 to be relieved of some reporting requirements, similar to the way CAMEL 1-rated CUs that are federally insured are.