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News Now

Washington
In Congress: McWatters nomination could see vote before next break
WASHINGTON (3/25/14)--The Senate Banking Committee is expected to move forward with a vote on National Credit Union Administration nominee Mark McWatters within the next couple of weeks--and probably on short notice. But that is not all that is brewing on Capitol Hill during this work session just before a spring recess.
 
For this week, the committee schedule includes today's House Financial Services Committee hearing titled "Why Debt Matters" and a House Small Business Committee markup of the views and estimates of the fiscal 2015 budget request of the Small Business Administration, also today.
 
On Wednesday, the congressional calendar includes:
  • A Senate Banking subcommittee on financial institutions and consumer protection hearing titled "Are Alternative Financial Products Serving Consumers?";
  • A Senate Homeland Security and Governmental Affairs Committee hearing on "Strengthening Public-Private Partnerships to Reduce Cyber Risks to Our Nation's Critical Infrastructure.";
  • A Joint Economic Committee hearing titled "Unwinding Quantitative Easing: How the Fed Should Promote Stable Prices, Economic Growth, and Job Creation."; and,
  • A House Judiciary regulatory reform, commercial and antitrust law subcommittee hearing on potential reforms to Chapter 11.
 
The Senate Judiciary Committee was scheduled to consider the Patent Transparency and Improvements Act (S. 1720), but discussion of that bill may be delayed by one week or more.
 
CUNA also expects the House Financial Services Committee to soon announce an April 8 hearing on financial services regulation.
 
Representatives from the NCUA, Consumer Financial Protection Bureau and other agencies are expected to testify at this hearing. CUNA staff have been briefing committee members regarding current concerns with these regulators, including concerns regarding the NCUA's risk-based capital proposal.
 
The House and Senate are scheduled to remain in session until the Easter holiday district work period, which is set to begin on April 11.


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