WASHINGTON–With the House of Representatives returning to Washington this week and the Senate doing the same next week, credit unions will be watching many of the same issues before Congress as just about every other constituency.
As CUNA’s chief advocacy officer for federal affairs, Jason Stverak noted, Congress will be again wrestling with the always divisive issues of funding the federal government, whether longer term or through a continuing resolution (CR).
“We continually work with members of Congress on both sides of the aisle to ensure that as they are negotiating…credit union priorities are protected,” Stverak said.
Also in front of Congress is another annual issue and debate, funding for the National Flood Insurance Program.
“Obviously, as we're rolling into a hurricane season, it's incredibly important that this program remains viable,” Stverak said, noting that viability includes the ability of members who are looking to purchase a home to have the program available.
Issue of Specific Interest to CUs
The issue of greatest interest to credit unions specifically, as CUToday.info has been reporting, is the Credit Card Competition Act, which CUs strongly oppose and the nation’s retailers merchants and retailers just as strongly support.
Among the concerns is that if the legislation isn’t considered as a standalone bill that the bill, or some of its components, will be inserted in the National Defense Authorization Act (NDAA). There are similar concerns the bill or some of its language could be inserted into the funding bill, as well.
‘Constant Contact’
“We have been remained in constant contact with members and their staff to point out the flaws in this big box retailer bill,” said Stverak. “Throughout all of August that criticism did not sit on the sidelines; we were incredibly aggressive both on Capitol Hill with weekly communications with members and their staff, but also with members who were back in their states and in their home districts meeting with hometown credit unions on the importance of interchange and not signing on to the Marshall Durbin bill.”
Sen. Roger Marshall (R-KS) has pledged to bring the legislation to a vote in this session of Congress.
Stverak said it is expected half of the state leagues will have representatives on Capitol Hill at some point during September.
NAFCU will also be hosting its annual Congressional Caucus.
One Hearing to Watch
Stverak said CUNA will be watching one hearing this week. The Senate Committee on Banking, Housing and Urban Affairs on Thursday will hold a hearing on “Perspectives on Challenges in the Property Insurance Market and the Impact on Consumers.”
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