news.cuna.org/articles/116800-cuna-engaged-w-affordable-housing-data-privacy-hearings

CUNA engaged w/ affordable housing, data privacy hearings

October 21, 2019

The House is expected to consider a CUNA-supported bill and CUNA will engage with several hearings in both chambers of Congress on topics such as affordable housing, minority depository institutions and data privacy this week.

The House is expected to consider the CUNA-backed Corporate Transparency Act (H.R. 2513), while the Senate is expected to consider appropriations legislation and a treaty.

H.R. 2513 would address redundancies, unnecessary burdens and opportunities for efficiencies within the Bank Secrecy Act/Anti-money Laundering (BSA/AML) statutory framework.

CUNA wrote to House leadership Monday in support of H.R. 2513 and an amendment offered by House Financial Services Committee Chairwoman Maxine Waters (D-Calif.) that would index the CTR reporting thresholds for inflation every five years and further study the impact of Suspicious Activity Reports.

Hearings CUNA is engaged with this week includes:

  • Tuesday, 10 a.m. (ET): Senate Banking Committee hearing, “Oversight of the Status of the Consolidated Audit Trail;”
  • Tuesday, 10 a.m. (ET): House Financial Services Committee hearing, “The End of Affordable Housing? A Review of the Trump Administration's Plans to Change Housing Finance in America.”
  • Tuesday, 2 p.m. (ET)): House Financial Services subcommittee on consumer protection and financial institutions hearing, “An Examination of the Decline of Minority Depository Institutions and the Impact on Underserved Communities;”
  • Wednesday, 10 a.m. (ET): House Financial Services Committee hearing, “An Examination of Facebook and Its Impact on the Financial Services and Housing Sectors;” and
  • Thursday, 10 a.m. (ET): Senate Banking Committee hearing, “Data Ownership: Exploring Implications for Data Privacy Rights and Data Valuation.”