WASHINGTON–With Congress focused on the tax reform legislation this week, the CU-related agenda is relatively light. Instead, credit unions will be joining many others in watching a Friday court hearing.
Congress will also be looking to pass a continuing resolution to fund the federal government beyond the Dec. 22 deadline.
Bills credit unions are watching include HR 3312, the Systemic Risk Designation Improvement Act of 2017, and HR 4015, the Corporate Governance Reform and Transparency Act of 2017, according to CUNA’s chief advocacy officer, Ryan Donovan.
Donovan said CUNA will also be paying attention to hearings in the Senate Banking Committee related to the Export Import Bank.
On Friday, a District of Columbia Court will hear English vs. Trump, the challenge by Leandra English, deputy director of the CFPB, to the Trump Administration’s appointment of Mick Mulvaney as acting director of the agency. CUNA has filed an amicus brief in support of the administration’s position that it had the authority to make the appointment. English is arguing the Dodd-Frank Act prohibits such an appointment.
Regardless of the court’s decision, Donovan noted it will certainly be appealed.
As for the absence of any language impacting the credit union tax exemption in the tax reform bill, Donovan added, “We believe it’s an indication Congress understands credit unions continue to fulfill their mission.”