WASHINGTON–With the House in recess and the Senate focused primarily on nominations this week, both credit union trade association said they expect Capitol Hill to be “quiet” this week.
There is one hearing of interest to credit unions on the agenda, and it is set for today in the Senate Committee on Banking, Housing & Urban Affairs. That hearing it titled “Crypto-Crash: Why Financial System Safeguards are Needed for Digital Assets.”
“We expect crypto to be on the agenda of both the Banking and the Financial Services committees and it’s something we're watching with interest,” said NAFCU VP-Legislative Affairs Brad Thaler.
Also in Washington:
- NCUA Funds Get Clean Audits. NCUA reported its four funds again earned unmodified, or “clean,” audit opinions for 2022, according to audited financial statements released today by the agency’s Office of the Inspector General. The financial statements, audited by the independent auditor KPMG LLP, cover the National Credit Union Share Insurance Fund, the agency’s Operating Fund, the Central Liquidity Facility, and the Community Development Revolving Loan Fund. The Share Insurance Fund, which held assets of $20.4 billion on Dec. 31, 2022, protects the deposits of more than 135 million members at more than 4,750 federally insured credit unions, the agency said.
- GAC Speakers Named. CUNA announced that political insiders Jennifer Palmieri and Karl Rove will join the 2023 Governmental Affairs Conference (GAC). The two leading political strategists will participate in a point-counterpoint discussion. “To successfully advocate for credit union priorities, it’s crucial for CUNA and its members to hear from influential voices across the political spectrum,” said Todd Spiczenski, CUNA chief products and services officer. “I’m confident that credit unions interested in maximizing their advocacy will benefit from the lively and informative discussion.” Palmieri served as White House Communications Director for President Obama and head of communications for the Hillary Clinton presidential campaign. Rove served as Senior Advisor to President George W. Bush from 2000–2007 and Deputy Chief of Staff from 2004–2007. The discussion will take place Wednesday, March 1, 2023, on the CUNA GAC mainstage.
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