WASHINGTON (7/29/14)--Several matters of interest are on the schedule this week before members of the U.S. Congress leave for their August recess.
Two Credit Union National Association-supported bills will he heard on the House floor this week. The SAFE Act Confidentiality and Privilege Enhancement Act (H.R. 4626) would amend the SAFE Mortgaging Licensing Act of 2008 to allow state and federal regulatory officials with financial oversight authority access to any information given to the Nationwide Mortgage Licensing System and Registry without loss of privilege or confidentiality protections.
Currently the bill only allows officials with mortgage oversight authority to access the database.
The National Cybersecurity and Critical Infrastructure Protection Act of 2014 (H.R. 3696) would amend 2002's Homeland Security Act to require the Secretary of Homeland Security to conduct cybersecurity activities, including shared situational awareness among federal entities.
Both bills are expected to be heard on the House floor this week under suspension of the rules.
Today, the House Financial Services Committee will being markup of a series of regulatory bills, including two that have strong support from the Credit Union National Association. CUNA has testified in favor of the Regulation D Study Act (H.R. 3240) and the Access to Affordable Mortgages Act of 2014 (H.R. 5148), and plans to send a letter of support to the committee this week. (See related story: CUNA supports House panel markup of CU relief bill.)
On Wednesday, the House Ways and Means subcommittee on select revenue measures will conduct a hearing to on dynamic analysis of the discussion draft of the Tax Reform Act of 2014, which was released in February. The hearing will begin at 10 a.m. (ET).
On Thursday, the Senate Banking Committee full committee hearing, titled "Financial Products for Students: Issues and Challenges." Witnesses will include representatives from education policy groups, financial aid administrators and financial institution trade organizations. The hearing is scheduled to being at 10 a.m. (ET).