CUNA monitoring TCPA, arbitration hearings this week

May 16, 2016

With both chambers of the U.S. Congress in session this week, CUNA will be tracking a number of hearings, as well as any possibilities for credit union-friendly additions to various appropriations bills.

On the appropriations front, CUNA will be watching both chambers this week. The House will consider the National Defense Authorization Act, which already has dozens of amendments filed, and the Military Construction and Veterans Affairs appropriations bill.

The Senate is expected to consider H.R.2577, an appropriations bill for fiscal year 2017 that combines the transportation and housing funding bill (S. 2844) and the Military Construction and Veterans Affairs funding legislation (S. 4974). 

CUNA expects to send letters for the record for the following hearings this week:

  • Wednesday, 10 a.m. (ET), Senate Committee on Commerce, Science and Transportation, “The Telephone Consumer Protection Act (TCPA) at 25: Effects on Consumers and Businesses.” Recent changes to the TCPA have led to CUNA concerns that it will restrict credit unions from being able to contact members with important account information. CUNA requested the hearing;
  • Wednesday, 2 p.m. (ET), House Financial Services subcommittee on financial institutions and consumer credit, “Examining the CFPB’s Proposed Rulemaking on Arbitration: Is it in the Public Interest and for the Protection of Consumers?” CUNA believes that the CFPB’s arbitration proposal is inappropriate for credit unions, given their nature as member-owned, not-for-profit financial cooperatives;
  • Thursday, 10 a.m. (ET), Senate Banking subcommittee on banking, housing and urban affairs, “Improving Communities’ and Businesses’ Access to Capital and Economic Development.” CUNA has a strong record of advocacy when it comes to improving access to capital for small businesses, including legislation to raise the member business lending cap of 12.25% of assets.