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News Now

Washington
Congress This Week: Housing, Monetary Policy On the Agenda
WASHINGTON (2/26/13)--As the Credit Union National Association's 2013 Governmental Affairs Conference got started here Monday, members of the U.S. Senate and House were returning to Washington after a ten-day recess for the Presidents' Day holiday.

The Senate calendar will be dominated by consideration of a sequester replacement bill and a vote on the nomination of former Sen. Chuck Hagel to be Secretary of Defense. The sequester will take effect on March 1 unless Congress and the president are able to reach a deal this week.

Committee meetings of most note for credit unions this week include:

  • The Federal Reserve's Humphrey-Hawkins semi-annual reports in both Senate and House on monetary policy. Fed Chairman Ben Bernanke will address the Senate Banking Committee Tuesday and the House Financial Services Committee on Wednesday; and
  • On Thursday, the Senate Banking, Housing and Urban Affairs Committee will hold a hearing on "Addressing FHA's Financial Condition and Program Challenges, Part II."
Many of the 4,200 credit union representatives attending CUNA's GAC will be making trips to Capitol Hill to speak with their federal lawmakers about key credit union issues, such as charter enhancements and the public policy reasons that support the credit union tax status.
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