CUNA is engaged with both House and Senate proceedings this week, as the House prepares to vote on a piece of regulatory relief legislation and a CUNA board member will testify before a Senate Committee. Dallas Bergl, who also serves as CEO of INOVA FCU, Elkhart, Ind., will testify before the Senate Banking Committee Thursday.
Bergl will appear before the committee at a hearing titled "Fostering Economic Growth: The Role of Financial Institutions in Local Communities," scheduled for Thursday at 10 a.m. (ET).
“In his testimony, he’s going to present a number of common-sense solutions to stimulate economic growth, I would expect he will discuss the role credit unons play in serving their communities through small business loans, and the need to provide parity for 1-4 family non owner occupied residential loan,” said Ryan Donovan, CUNA’s chief advocacy officer. “He’ll also discuss the impact the member business lending cap has on credit unions’ ability to serve communities.”
Live video of the hearing will be streamed on the committee’s website.
Rep. Jeb Hensarling’s (R-Texas) Financial CHOICE Act, an alternative to Dodd-Frank, is expected to be considered by the House this week.
“We’re pleased to see the House is moving to consider this legislation later this week, and we look forward to its passage,” Donovan said.
While there are some CUNA-supported provisions in the bill, there are some that raise concerns as well. In a letter for the bill’s markup in committee in May, CUNA outlined those provisions, and highlighted potential improvements to make the legislation more credit union-friendly.
The bill passed committee 34-26 in May.
Besides CHOICE and the Bergl testimony, CUNA is engaged with several other hearings this week on Capitol Hill. For more information, see CUNA’s Removing Barriers Blog.