WASHINGTON–Beginning with the Senate’s return to session today, both Houses of Congress are now back in Washington in what is expected to be a long work session lasting at least four weeks.
The credit union agenda in Washington is as affected as everyone else’s agenda due to some of the uncertainty around the future for Speaker of the House Mike Johnson (R-LA), as well as the GOP’s razor-thin margin in the House. Several far-right members of the GOP, upset with Johnson over funding for Ukraine, Israel and other issues, are threatening to remove him.
The Big Issue
For credit unions, the big issue on everyone’s radar remains the Credit Card Competition Act. As adamantly as credit unions oppose that bill, the nation’s retailers and merchants favor the legislation that seeks to expand the card payment and routing options available at the point of sale and online.
America’s Credit Unions’ chief advocacy officer, Carrie Hunt, acknowledged during a call with the media the uncertainty in Washington will create a lot of “potential interplay” between various factions and groups in the capitol.
As CUToday.info reports separately, the trade group is also engaged with both the CFPB and NCUA on overdraft practices and other issues.
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