news.cuna.org/articles/114343-cuna-engaged-with-fsgg-markup-other-approps-bills-this-week

CUNA engaged with FSGG markup, other approps bills this week

June 11, 2018

CUNA will be closely engaged with the House Financial Services and General Government (FSGG) appropriations bill for fiscal year 2019, which is scheduled for a full committee markup Wednesday, as well as other hearings and meetings on Capitol Hill this week. The markup is scheduled to begin at noon (ET) Wednesday.

The bill approved by the House Appropriations FSGG subcommittee contains several regulatory relief provisions supported by CUNA. A detailed look at the bill is available at CUNA’s Removing Barriers Blog.

Among the credit union-friendly provisions in the bill are several that align with CUNA’s Campaign for Common-Sense Regulation:

  • Delaying the effective date of NCUA’s risk-based capital rule to January 2021, past the current January 2019 date;
  • Placing the Bureau of Consumer Financial Protection under the appropriations process;
  • Give the president the authority to remove the bureau director; and
  • Enhancing Congressional power under the Congressional Review Act of 1996.

It also contains language from CUNA-backed bills dealing with mortgage lending, privacy notifications, and creating a bureau inspector general.

The Senate is expected to consider the National Defense Authorization Act for Fiscal Year 2019 (H.R. 5515) this week as well.

Other hearings CUNA is engaged with this week include:

  • Wednesday, 10 a.m. (ET): House Financial Services Committee hearing, “Financial Industry Regulation: the Office of the Comptroller of the Currency;”
  • Wednesday, 10 a.m. (ET): House Appropriations subcommittee on state, foreign operations and related program markup of the FY2019 Foreign Operations Appropriations Bill;
  • Thursday, 10 a.m. (ET): Senate Banking Committee hearing, “Update from the Comptroller of the Currency.”