CU governance modernization bill markup scheduled this week

November 15, 2021

The House Financial Services Committee is expected to mark up a bipartisan CUNA-supported governance modernization bill this week. The House may also consider the Build Back Better legislation, which currently does not contain expanded Internal Revenue Service (IRS) reporting language CUNA, Leagues, and credit unions fought to exclude.

The House Financial Services Committee will conduct a markup of pending legislation starting Tuesday at 10 a.m. ET. The markup will include the Credit Union Governance Modernization Act of 2021 (H.R. 2311). 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: House Small Business Committee hearing, “A Discussion with SBA Administrator Isabella Casillas Guzman.”
  • Wednesday, 2:30 pm. ET: Joint Economic Committee hearing, “Demystifying Crypto: Digital Assets and the Role of Government.”