The House Financial Services Committee will discuss several CUNA-supported bills this week, including legislation to allow federal credit unions to add underserved areas to their field of membership and exempt loans in low-income areas from the member business lending cap.
CUNA and Leagues have engaged heavily with Congress in the last few months to advance financial inclusion by allowing federal credit unions to serve underserved areas.
Specifically, the Expanding Financial Access for Underserved Communities Act would:
The hearing, scheduled for Wednesday at 10 a.m. (ET), will also include testimony from NCUA Chairman Todd Harper and other federal financial regulators.
Other CUNA-supported legislation to be discussed at the hearing includes:
The House is also expected to consider a number of bills under suspension of the rules.
Additional hearings CUNA is engaged with this week include: