WASHINGTON–NCUA Chairman Todd Harper will be testifying before Congress twice this week, beginning today.
Harper will testify before the Senate Committee on Banking, Housing and Urban Affairs during a hearing titled “Oversight of Financial Regulators: Protecting Main Street Not Wall Street.”
In addition to Harper, other regulators appearing before Congress include:
- Michael Barr, vice chair for supervision with the Federal Reserve
- Martin Gruenberg, chairman of the FDIC
- Michael Hsu, acting comptroller with the Officer of the Comptroller of the Currency
That hearing will begin a 10 a.m.
Harper will join the same three regulators during a hearing by the House Financial Services Committee on Wednesday titled, “Oversight of Prudential Regulators.”
The hearing will begin a 9:30 a.m.
CUToday.info will have coverage.
Looking for Funding Deal (Again)
Meanwhile, Congress is back in session and once again seeking to reach a deal on funding the federal government by the Nov. 17 deadline.
“I'm confident all signs are there that people find some sort of agreement,” said CUNA Deputy Chief Advocacy Officer Jason Stverak. “But either way, I know America's credit unions all across this country are ready to help any members that are impacted by a potential government shutdown.”
NAFCU’s VP-Legislative Affairs, Brad Thaler, said there remains a lot of “uncertainty” over whether any of the budget plans put forth so far, including by new House Speaker Mike Johnson, will be able to get through the House.
“The Senate will continue to try to work their own version of the (continuing) this week,” said Thaler. “I think once again, just as we saw 45 or so days ago, we'll be coming down to the wire here on Friday.”
Hearings Being Monitored
Among the hearings the CU trade groups are watching this week:
- Today, Senate Banking Committee hearing on financial regulation
- Wednesday, House Financial Services Committee hearing on “prudential oversight” and financial regulation
- Wednesday, House Financial Services Committee hearing on “Digital Assets, Financial Technology and Inclusion”
Support for Retiring Rep
Separately, CUNA has expressed support for Rep. Derek Kilmer (D-WA), who has announced he will not seek re-election in 2024.
Kilmer—who has served in Congress since 2013—supports several credit union priorities, including the Secure and Fair Enforcement (SAFE) Banking Act and the Credit Union Board Modernization Act, CUNA noted.
“Rep. Kilmer supported credit union priorities from his early days in Congress with prize-linked savings account legislation, and currently supports several pieces of legislation, including the SAFE Banking Act and Credit Union Board Modernization Act,” CUNA President/CEO Jim Nussle said in a statement. “We appreciate his willingness to engage with credit unions on ways we can increase service to members and communities and wish him the best in his next step.”
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