WASHINGTON–The second session of the 116th Congress is underway with both the House and Senate back in session this week.
Eli Joseph, deputy chief advocacy officer for CUNA, said the trade group will continue its focus on passage of the SAFE Banking Act, as well as bills around BSA and AML.
While the SAFE Banking Act has passed the House, its prospects in the Senate seem slim. As CUToday.info reported here, in December Sen. Mike Crapo (R-ID) said he remains “firmly opposed” to the legalization of marijuana on the federal level, although he is inviting public feedback on ways to address public health and money laundering related to cannabis banking.
Meanwhile, House Financial Services Committee Chair Maxine Waters (D-CA) has unveiled her committee’s agenda for January, and it includes hearings on CRA, mobile payments, and oversight of FASB.
Joseph said CUNA will be “actively engaged” in all of the hearings.
In the Senate, the schedule remains somewhat in flux due to uncertainty around the impeachment of President Trump.