Newsroom
Hill update: Senate moves to confirm NCUA nominee, $908b relief package introduced
As lawmakers return to Washington this week, the Senate Tuesday took a major step toward confirming Kyle Hauptman to the NCUA Board. The chamber voted 56-37 to invoke cloture on the nomination, limiting it to 30 additional hour of consideration before the final vote, which could happen as soon as today.
Following his nomination earlier this year, Hauptman outlined his priorities for the board if he were to be confirmed during an appearance before the Senate Banking Committee.
Also happening on Capitol Hill, a group of bipartisan members of the House and Senate have introduced a new $908 billion stimulus package aiming to address the impending expiration of some economic aid programs. Of note, the proposal includes $288 billion in additional funding for small business aid, including paycheck protection program (PPP) loans and would offer temporary protection from coronavirus-related lawsuits. Senate Majority Leader Mitch McConnell (R-Ky.) and House Speaker Nancy Pelosi (D-Calif.) also both indicated yesterday that they hope to unveil their own updated relief packages this week.
Additionally, as a conference committee continues work on the fiscal year 2020 National Defense Authorization Act (NDAA), NAFCU Vice President of Legislative Affairs Brad Thaler shared an update on Monday on the conferee's work and the association's push to ensure to ensure a provision that would require the Department of Defense (DoD) to treat big banks the same as credit unions when it comes to nominal leases on military bases is not included in the final bill.
In the message to credit unions, Thaler urged credit unions to continue to reach out to conferees from their home states or districts to share their concerns on the issue.
To join NAFCU in its advocacy, access the association's resource page and Grassroots Advocacy Center to build relationships and advocate on behalf of the industry. NAFCU is currently leading the fight for action on 12 key issues that should be addressed in the congressional lame duck session and with regulators in the transition to a new administration.
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