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Legislation hearings on tap as CUs visit Hill
WASHINGTON (3/20/12)--Washington will be packed this week, with credit union advocates taking their message to Washington legislators as part of the Credit Union National Association's (CUNA) 2012 Governmental Affairs Conference, and business will proceed as usual on Capitol Hill, with both the U.S. House and Senate in session.

The top item this week will likely be the release of the House Republican Budget, which is expected to happen today, but the House is also expected to consider bills under suspension of the rules early in the week, and will take up the Protecting Access to Healthcare (PATH) Act (H.R. 5) later in the week.

The Senate will continue to review the Jumpstart Our Business Startups (JOBS) Act (H.R. 3660), and may move on to other domestic violence prevention legislation later in the week.

CUNA staff will also track several hearings this morning, including:

  • A Senate Judiciary subcommittee hearing on student debt;
  • A Senate Banking Committee confirmation hearing for Federal Reserve Board of Governors nominees Jerome Powell and Jeremy Stein, Federal Deposit Insurance Corporation Board of Directors nominee Jeremiah Norton, Office of Financial Research Director nominee Richard Berner, and Troubled Asset Relief Program special inspector general nominee Christy Romero; and
  • A House Financial Services Committee hearing on the state of the international finance system, which will feature testimony from Treasury Secretary Timothy Geithner.
The Senate Banking Committee securities and insurance subcommittee will address investor risks in crowdfunding on Wednesday morning, and a House Small Business Committee hearing on how entrepreneurs can lead economic recovery is scheduled for early Wednesday afternoon. The House Judiciary courts and administrative law subcommittee is also scheduled to discuss federal regulations and regulatory reform under the Obama Administration that afternoon. Small Business Administrator Karen Mills is also scheduled to testify at a Wednesday afternoon House Appropriations subcommittee on financial services hearing on the Small Business Administration's budget for fiscal year 2013.

A Thursday morning House Financial Services financial institutions and consumer credit subcommittee hearing entitled "The Future of Money: How Mobile Payments Could Change Financial Services" has also been scheduled.

Around 1000 bankers will also be in town for this week's American Bankers Association Government Relations Summit, discussing, among other things, how to "out hustle and outmuscle" credit unions, and those bankers are also planning to visit with members of Congress this week, CUNA Senior Vice President of Legislative Affairs Ryan Donovan noted.


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