WASHINGTON (4/24/12)--Credit unions remain on the lookout for a potential vote on a Senate bill that would increase member business lending authority, and while that vote could come at any time, it is unlikely to occur before the next Senate recess begins on April 30 because of a busy legislative schedule.
However, there is still plenty to watch in Washington this week.
Debate on the 21st Century Postal Service Act of 2012 (S. 1789), which would reduce postal service days from six to five and give the postal service greater flexibility in how it increases its rates, is expected to begin again today and could conclude this week.
A group of cyber-security bills are also expected to come up for discussion in the U.S. House. Those bills are:
- The DATA Act (H.R. 2146);
- The Advancing America's Networking and Information Technology Research and Development Act (H.R. 3834);
- The Cybersecurity Enhancement Act of 2011 (H.R. 2096); and
- The Federal Information Security Amendments Act (H.R. 4257).
The Cyber Intelligence Sharing and Protection Act (H.R. 3523) is also expected to be discussed in the House this week. That bill would task the Office of the Director of National Intelligence with developing cyberthreat information sharing guidelines between public- and private-sector organizations. The Credit Union National Association supports this legislation. (See related NewsWatch
story: What is Congress doing about Cyber-Security)
The Small Business Credit Availability Act (H.R. 3336), which would preserve the rights of credit unions and other small financial institutions to use swaps to hedge interest rate risk, is on the House schedule for Wednesday, and CUNA also supports this bill.
The committee calendar is also busy this week. The House Homeland Security subcommittee on oversight today will hold a hearing entitled: "America is Under Cyber Attack: Why Urgent Action is Needed." Oversight of the U.S. Securities and Exchange Commission will be covered during a Wednesday House Financial Services capital markets subcommittee hearing.
Wednesday will also feature home refinancing discussions during a Senate Banking housing, transportation and community development subcommittee hearing, and the Senate Homeland Security and Governmental Affairs' oversight and government management subcommittee has scheduled a Thursday hearing on financial literacy.
Thursday will also feature a House Ways and Means select revenue measures subcommittee hearing on tax extenders.