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News Now

Washington
111th Congress nearing its end
WASHINGTON (12/7/10)--With the 11th Congress starting to wind down, floor agendas in both the House and Senate this week are light and subject to change. The limited action will center on a continuing resolution to fund the government and the Food Safety Act. However, the Food Safety Act is facing issues due to a Senate addition, and Senate Republicans have vowed to oppose cloture on all bills that do not seek to extend the Bush-era tax cuts. Senate leaders and the President continue to discuss a compromise agreement to move these issues and other priorities forward. The most important event for credit unions is a hearing on the state of the credit union industry. The hearing, which is set to take place before the Senate Banking Committee, was rescheduled to Thursday. Originally set to take place today, the hearing will feature testimony from National Credit Union Administration (NCUA) Chairman Debbie Matz. Matz will be the only witness at the hearing, which is the first credit union-focused Senate Banking Committee hearing in several years. CUNA expects the hearing to focus on the corporate credit union situation, and will submit a statement for the record.


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