WASHINGTON—“Boring” is not the word being used to describe Washington over the past week, where a new administration is now in charge, according to CUNA's chief advocacy offer, Ryan Donovan.
“We felt the power easily and peacefully transferred within the two administrations and the sun came up the next day. The chess pieces are being put on a three-dimensional board,” said Donovan. “Committee assignments have been completed. Legislative markers are beginning to be filed. Early work on top priorities has begun. And committee and cost retreats are right around the corner.”
The new administration’s entrance last week was “fast and furious,” said Donovan, who noted the reversal on mortgage discounts and the call for a freeze on any new and pending regulations.
“In the coming days we expect a number of policy and personnel announcements, so we will be watching for those closely,” said Donovan.
An abbreviated week is ahead for the House, which is in session the first three days of this week. No hearings of importance to credit unions are expected.
The Senate is expected to vote on several new appointments, including Ben Carson for secretary of Housing and Urban Development, Rep. Mike Pompeo for director of the CIA, and Sen. Jeff Sessions for United States Attorney General.
NAFCU, meanwhile, said it is continuing to monitor the nominations, noting that NAFCU President and CEO Dan Berger last week called for greater regulatory relief for credit unions, saying he looks forward to working with the new administration to help small businesses realize their American dream.
The Senate Banking Committee is expected to vote on the nominations of Carson and Sessions today.
Donovan added that this week 45 state legislatures are in session, noting a bill in Nebraska to modernize the Nebraska CU Act, a data breach notification standards bill in New Mexico, and supplemental capital legislation out west in Washington.