The House of Representatives passed the fiscal year 2022 National Defense Authorization Act Thursday with two CUNA-backed amendments and without language CUNA, Leagues and credit unions fought to exclude.
The NCUA board approved an item to place NCUA's CUSO, field of membership shared facilities, and mortgage servicing rights final rules on upcoming board meeting agendas through the end of the year. It also approved a subordinated debt proposal Thursday.
CUNA Chief Advocacy Officer Ryan Donovan spoke with NBC25 News in Michigan this week about credit unions’ opposition in increased reporting requirements and what comes next after the House Ways and Means committee passed their bill without the troublesome language.
CUNA wrote in support of several amendments to the FY22 National Defense Authorization Act Wednesday, prior to the House vote on the bill. A CUNA-supported amendment was successfully added late Tuesday that would include the SAFE Banking Act.
The Consumer Financial Protection Bureau announced the appointment of new advisory committee members Wednesday, including for the Credit Union Advisory Council. The CUAC advises and consults with the CFPB on consumer financial issues related to credit unions.
CUNA announced Wednesday that registration is open for the 2022 CUNA Governmental Affairs Conference which will be held in-person at the Walter E. Washington Convention Center in Washington, D.C. February 27 to March 3, 2022.
An amendment adding the CUNA-supported SAFE Banking Act to the FY22 National Defense Authorization Act passed by voice vote Tuesday night. The amendment will be included in the final House version of the bill that will be voted on later this week.
The House passed a continuing resolution 220-211 Tuesday night funding the federal government through Dec. 3. Funding currently expires Sept. 30. The continuing resolution also contains a suspension of the debt limit through December 2022.
Strong economic growth from earlier this year could be slowing, CUNA Senior Economist Dawit Kebede told Fox Business this week. He also noted that the slowed growth could cause the Treasury Department to slow its plans to raise rates.
The House is expected to consider a continuing resolution to keep the federal government funded past Sept. 30 this week, the National Defense Authorization Act (NDAA) for fiscal year 2022 and may also consider legislation to lift or suspend the federal debt ceiling.