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News Now

Washington
CUs see slow week in Washington
WASHINGTON (10/18/11)--Washington, D.C., should be quiet for credit unions this week as the Senate focuses on appropriations bills and the House is in recess. However, credit unions will still want to look out for a Thursday Senate Banking Committee hearing entitled “Housing Finance Reform: Continuation of the 30-year Fixed-rate Mortgage.” No credit union witnesses are set to appear at this point, but a series of academic witnesses are scheduled to speak during the hearing. Another noteworthy hearing scheduled for Tuesday is the Senate Small Business Committee, which will hear U.S. Treasury Secretary Tim Geithner address the first year of the Small Business Jobs Act. Tuesday also will feature a Senate Finance Committee hearing entitled Tax Reform Options: Incentives for Charitable Giving. Congressional Budget Office deputy assistant director for tax analysis Frank Sammartino, charity representatives, and academics are scheduled to testify. The Joint Select Committee on Deficit Reduction is expected to continue to meet in private this week. The committee, which was created as part of an agreement to lift the debt ceiling while making some budget cuts, has been charged with creating more than $1 trillion in deficit reductions. The Credit Union National Association (CUNA) continues to emphasize the positive impact that the credit unions have on the members and communities that they serve as the committee identifies areas for deficit reductions.


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