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This week: Fintech, gov't funding, NCUA meeting on NAFCU's radar
The Senate is in session this week, but members of the House are back in their home districts giving credit unions the opportunity to meet to discuss issues facing the industry. NAFCU will be monitoring a Senate Banking hearing on fintech, as well as work on appropriations bills. The NCUA Board also has a meeting set for Thursday.
Government funding is currently set to expire Sept. 30, but Congress has been working to pass minibus funding packages to avoid a shutdown. Last week, both chambers passed a package of spending bills that the president is expected to sign, and came to an agreement for long-term funding for some departments that also includes funding through Dec. 7 for remaining agencies. NAFCU will continue to monitor funding efforts and keep credit unions updated as the deadline approaches.
Tomorrow, the Senate Banking Committee holds a hearing on fintech, slated to begin at 10 a.m. Eastern. NAFCU has actively engaged with Congress, the Treasury Department and regulators to offer credit unions' perspective on the emerging technologies – the association agrees that fintech produces real benefits to consumers, but believes that any company engaged in core banking functions should be regulated the same way as credit unions.
Thursday, the NCUA Board is set to issue a proposed rule on real estate appraisals, which is expected to increase the threshold level at or below which appraisals would not be required for commercial real estate transactions. The full agenda for Thursday's 10 a.m. Eastern meeting is available here; NAFCU will update credit unions on the board's actions afterward.
For those meeting with representatives while they are in their home districts or candidates running for elected offices, NAFCU's Grassroots Action Center has resources available on top credit union issues. It also allows credit unions to find contact information for their lawmakers and look up key credit union-related legislation to see where their members of Congress stand on those bills.
Also happening this week:
- NAFCU Senior Regulatory Affairs Counsel Ann Kossachev is attending a Women in Housing and Finance luncheon with Bureau of Consumer Financial Protection Chief of Staff Kirsten Sutton.
- Thursday, the Senate Judiciary Committee is expected to vote on Brett Kavanaugh's nomination to the Supreme Court, which would then advance to the full Senate.
- NAFCU is offering three webinars related to Spanish-language home buying materials, Fair Credit Reporting Act and the Financial Crimes Enforcement Network's customer due diligence rule. Learn more about the webinars here.