WASHINGTON–Both the House and the Senate are back in session this week before recessing for July 4, with legislation and hearings of interest to credit unions on the calendar.
Today, John Lewis, VP of corporate affairs and general counsel with United Nations FCU in New York, will be testifying at the hearing "International and Domestic Implications of De-Risking," held by the House Financial Services Subcommittee on Financial Institutions and Consumer Credit. Lewis, who will be testifying on behalf of NAFCU, will share with the subcommittee how UNFCU balances the risks that come with serving more than 125,000 members around the globe with providing sound financial products.
CUNA’s chief advocacy officer, Ryan Donovan, noted that also on tap this week are a host of non-controversial bills that are to be considered as part of the House suspension calendar, including HR 435, The Credit Access and Inclusion Act of 2017; HR 5783, the Cooperate with Law Enforcement Agencies and Watch Act of 2018; and HR 5481, the Foreign Investment Risk Review Modernization Act of 2018, which would suspend NCUA’s risk-based lending rules for two years.
The House is also expected to consider legislation on defense appropriations and some high-profile proposals around immigration reform. A number of other bills are scheduled for mark-up in both the House and Senate.
Hearing Schedule
In addition to the hearing at which UNFCU’s Lewis will be testifying, other hearings that have the attention of credit unions this week include:
- Today, the Senate Banking Committee will discuss legislative proposals to increase access to capital.
- On Wednesday, the House Financial Services Committee will hold a hearing with Department of Housing and Urban Development Secretary Ben Carson related to housing reform.
- On Wednesday, the House Science, Space and Technology subcommittee will discuss data privacy and mobile security.
- On Thursday, CUNA’s Donovan said the trade group will also be monitoring a hearing in the Senate Banking Committee on corporate governance.
NAFCU White Hat Awards
Separately, during its Annual Conference in Seattle, NAFCU named the winners of its NAFCU/PAC 2017 White Hat Award, which recognize political advocacy and fundraising by individual CUs.
"It is an honor to recognize the achievements of these dedicated credit unions and industry professionals that have worked tirelessly to ensure the industry maintains an effective, strong voice before Congress," said NAFCU President and CEO Dan Berger.
The White Hat Award is given to the NAFCU member credit union that raised the most money for NAFCU/PAC in the previous year. Once again, this year's winner is Members 1st Federal Credit Union, headquartered in Mechanicsburg, Penn. This is the 14th time that Members 1st has won the award.
Three credit unions won the Credit Union Challenge Award for raising the most money in direct individual contributions for NAFCU/PAC within their respective asset categories in 2017.
The winners are:
- Tulare County Federal Credit Union in Tulare, Calif. (less than $250 million in assets)
- Gulf Winds Federal Credit Union in Pensacola, Fla. ($250 million to $750 million in assets)
- Visions Federal Credit Union in Endwell, N.Y. (greater than $750 million in assets)