CUNA engaged w/ House disapproval of auto lending bulletin

May 7, 2018

CUNA will be closely engaged with House consideration of a joint resolution of disapproval this week, as well as other hearings in Congress this week. The House joint resolution would use the Congressional Review Act to void the Bureau of Consumer Financial Protection’s indirect auto lending bulletin from 2013, which CUNA believes creates guidance without using the notice and comment period.

CUNA is also concerned that the bulletin is not supported by data or research from the bureau. CUNA wrote to House leadership Monday to support the joint resolution. 

The Senate passed its joint resolution of disapproval last month, and if the Houses passes, the resolution will go to President Donald Trump for his signature.

The House is also expected to consider a series of bills, including the Small Business 7(a) Lending Oversight Reform Act of 2018 (H.R. 4743), which is designed to improve the Small Business Administration’s 7(a) lending program.

CUNA supports the bill, and wrote to House Small Business Committee leadership Monday to support the bill. 

Other hearings on CUNA’s radar this week include:

  • Tuesday, 10 a.m. (ET): House Committee on Space, Science and Technology subcommittee on oversight and subcommittee on research and technology joint hearing, “Leveraging Blockchain Technology to Improve Supply Chain Management and Combat Counterfeit Goods;” and
  • Thursday, 9 a.m. (ET): House Budget Committee hearing, “FY19 Budget: Members’ Day.”

Additional details can be found on CUNA’s Removing Barriers Blog.