CUNA engaged w/ S. 2155, money laundering hearings this week

October 1, 2018

CUNA will be engaged with a hearing on the implementation of the Economic Growth, Regulatory Relief and Consumer Protection Act (S. 2155) this week, in addition to other activities on Capitol Hill this week. NCUA Chairman J. Mark McWatters will be one of several federal financial regulators expected to testify at the hearing, which will be conducted by the Senate Banking Committee.

NCUA has already finalized a rule making the changes in S. 2155. Bureau of Consumer Financial Protection Acting Director Mick Mulvaney will not appear at the testimony, nor is anyone from the bureau scheduled to appear.

Other hearings CUNA is engaged with this week include:

  • Wednesday, 2:30 p.m. (ET): Senate Small Business Committee hearing, “Expanding Opportunities for Small Businesses Through the Tax Code;”
  • Thursday, 10 a.m. (ET): Senate Banking Committee hearing, “Combating Money Laundering and Other Forms of Illicit Finance: Regulator and Law Enforcement Perspectives on Reform.”

The House remains in recess until Nov. 13.