Rick Nichols, president/CEO of River Region CU, Jefferson City, Mo., will testify on behalf of the Heartland Credit Union Association before a House subcommittee Wednesday. Nichols will address regulatory relief proposals for community financial institutions before the House Financial Services subcommittee on financial institutions and consumer credit.
The hearing will examine a number of legislative proposals, including the CUNA-backed Community Lending Enhancement and Regulatory Relief (CLEARR) Act of 2017 (H.R. 2133). The bill was introduced earlier this year by Rep. Blaine Luetkemeyer (R-Mo.), chair of the subcommittee.
The hearing is scheduled to begin at 2 p.m. (ET), and will be streamed live on the committee’s website.
CUNA is also heavily engaged with the House Appropriations Committee’s markup of the financial services and general government appropriations bill for fiscal year 2018, scheduled for Thursday. The bill contains some regulatory relief provisions, but CUNA is very concerned with a provision that would place NCUA under the appropriations process.
The bill also does not provide funds for NCUA’s Community Development Revolving Loan Fund, and makes cuts to the Treasury’s Community Development Financial Institutions Fund. Both funds are available to credit unions.
“We continue to work with the Appropriations Committee on this to make sure the funds that we care about have sufficient funding going forward, and that the legislation meets the needs of credit union with respect to common-sense regulation,” said CUNA Chief Advocacy Officer Ryan Donovan.
The markup is scheduled to begin Thursday at 10 a.m., and will be streamed live on the committee’s website.
CUNA is also engaged with the following hearings this week: