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News Now

Washington
Congress Committees show a slower week for CUs
WASHINGTON (12/15/09)--With H.R. 4713, the Wall Street Reform and Consumer Protection Act, passing the full House on Friday, this week will provide a legislative respite for credit union-related issues. Although the Senate may continue to work into next week, this is expected to be the last House weeklong session of the year, with the Defense Department Appropriations Act being the largest piece of potential legislation on the docket at this time. However, there is some speculation that a jobs bill could be attached to the appropriations bill. The Credit Union National Association (CUNA) has urged House members to include expanded business lending authority for credit unions in the jobs bill, and Rep. Paul Kanjorski (D-Penn.), who authored legislation that would expand the current member business lending cap for credit unions, has also asked his colleagues to address MBL through this legislation. It will also be quiet on the Committee front, as the House Financial Services Committee on Thursday will hold hearings on H.R. 476, the Housing Fairness Act. The Senate Banking Committee has also planned some business for Thursday, with a vote on the nomination of Ben Bernanke to serve another term as Chairman of the Federal Reserve Board of Governors scheduled.


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