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Final reg reform vote could come this week
WASHINGTON (6/29/10)--With the Monday morning passing of long-serving West Virginia Senator Robert Byrd (D), the exact schedule of events on Capitol Hill remains fluid. However, with Congress’s Independence Day district work period looming at the end of the week, there is a significant amount of work to be done, including a potential vote on the financial regulatory reform package. A report on that package, which was compiled by members of a House and Senate conference committee, was released over the weekend, and is being reviewed by Credit Union National Association (CUNA) staff this week. CUNA and affiliated credit unions have maintained that they will opposed the legislative package as long as the interchange language is included, and have urged legislators to vote no on the reform package. The House may debate the full, final version of the reform bill today or tomorrow, with the Senate also potentially holding its own debate on the agreed-to language this week. The Senate may also discuss H.R. 5297, the Small Business Lending Fund Act, if a cloture vote related to that bill successfully passes later today, and could hold a separate vote on legislation that would temporarily extend the National Flood Insurance Program (NFIP) this week. CUNA and other similar groups from throughout Washington wrote Senators last week to urge them to pass the NFIP plan. The National Credit Union Administration has recommended that credit unions with loans that would be subject to the NFIP, which has been suspended since June 1, continue making those loans while the program is lapsed.


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