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Congress back CUs Hike Hill on MBLs
WASHINGTON (5/8/12)--The Credit Union National Association on Monday called on credit unions to keep up the pressure and continue to urge the U.S. Congress to support increased member business lending authority for credit unions, and the North Carolina and South Carolina credit union leagues will do just that when they visit Capitol Hill this week.

The leagues will be the first two groups to launch Hike the Hill events this spring, and will meet with their members of Congress and National Credit Union Administration board members during their two-day visit.

Overall this week, the House and Senate schedules will be busy, as Congress returns from a week-long district work period. The Fiscal Year 2013 Appropriations for the Departments of Commerce, Justice, Science and Related Agencies bill (H.R. 5326) and another budget bill are scheduled to be considered in the House this week, and the Senate is set to address  judicial nominations and the Stop Student Loan Interest Rate Hike Act (S. 2343).

Also of note is a Wednesday House subcommittee on financial institutions and consumer credit hearing, in which Terry West, President/CEO of Vystar CU, Jacksonville, Fla., is scheduled to testify on how the growth of financial services regulations has impacted his credit union's ability to lend and to serve its members. The hearing will focus on how compliance costs impact small financial institutions. (See related News Now story: CUNA to testify on reg burden Wednesday)

Several other hearings have been scheduled, including:

  • A Tuesday House domestic monetary policy and technology subcommittee hearing on pending legislative proposals that would overhaul the Federal Reserve System;
  • A Wednesday House insurance, housing and community opportunity subcommittee hearing on oversight of the Federal Housing Administration's reverse mortgage program for seniors;
  • A Wednesday Senate economic policy subcommittee hearing on long-term National Flood Insurance Program reauthorization;
  • A Wednesday Senate financial institutions and consumer protection subcommittee hearing on limiting government support for financial institutions; and
  • A Wednesday Senate Commerce, Science and Transportation Committee hearing on privacy protections.
The House Financial Services Committee recently released its May hearing schedule, and bank capital requirements under the Dodd-Frank Wall Street Reform Act, aspects of Federal financial regulatory agency legal settlement procedures, the Federal Deposit Insurance Corporation's Structured Transaction Program, and the Financial Stability Oversight Council's authority over nonbank financial firms are scheduled to be discussed.

For the full committee schedule, use the resource link.


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