WASHINGTON–The Senate Banking Committee is planning to hold several hearings of interest to credit unions.
Among the hearings scheduled:
- May 11: Hearing on “The Status of the Housing Finance System After Nine Years of Conservatorship.” FHFA Director Watt will testify.
- May 16: Hearing on Treasury nominees. Witnesses are Sigal Mandelker, of New York, to be Under Secretary of Treasury for Terrorism and Financial Crimes; Marshall Billingslea, of Virginia, to be Assistant Secretary of the Treasury for Terrorist Financing; Heath P. Tarbert, of Maryland, to be Assistant Secretary of the Treasury for International Markets and Development; and Mira Radielovic Ricardel, of California, to be Under Secretary of Commerce for Export Administration.
- May 18: Hearing titled “Domestic and International Policy Update.” Treasury Secretary Mnuchin will testify.
NAFCU said it will closely monitor all of the above for any impacts on credit unions seen in planned activities of the FHFA and Treasury (particularly with respect to terrorist financing, which has implications for currency transaction reporting and related matters).
Regarding the FHFA, NAFCU said it is focused on ensuring equal access to the market for credit unions and fair pricing – based on loan quality, not volume – in connection with any reforms of the housing finance system.