news.cuna.org/articles/119938-government-funding-legislation-hearing-on-cu-governance-bill-this-week
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Government funding legislation, hearing on CU governance bill this week

September 27, 2021

The House Financial Services Committee will discuss several credit union-related bills in a hearing this week, and Treasury and Federal Reserve leaders will testify before committees in both chambers.

The House is expected to consider infrastructure legislation, among other items, and the Senate will consider House-passed legislation to fund the government past Sept. 30, when it is scheduled to expire.

The House Financial Services Subcommittee on Consumer Protection and Financial Institutions will discuss the CUNA-supported Credit Union Governance Modernization Act at a hearing Wednesday. The bill would update the credit union member expulsion process while ensuring a fair procedure for reinstatement.

Other hearings CUNA is engaged with this week include:

  • Tuesday, 10 a.m. ET:  The Senate Banking, Housing and Urban Affairs Committee will hear testimony from Treasury Secretary Janet Yellen and Federal Reserve Chairman Jerome Powell on pandemic recovery.
  • Tuesday, 10 a.m. ET: House Financial Services Subcommittee on Diversity and Inclusion hearing, “Access Denied: Eliminating Barriers and Increasing Economic Opportunity for Justice-Involved Individuals.”
  • Thursday, 10 a.m. ET: House Small Business Committee hearing, “Empowering Employee-Owned Businesses and Cooperatives Through Access to Capital.”
  • Thursday, 10 a.m. ET: Senate Banking, Housing, and Urban Affairs Committee hearing on pending nominations, including for NCUA Chairman Todd Harper to continue to serve on the NCUA board.
  • Thursday, 10 a.m. ET: The House Financial Services Committee will hear testimony from Yellen and Powell.