Sept. 18, 2012 – NAFCU lobbyists are watching a brief series of hearings and other events this week as the House and Senate prepare for a brief work session that could wrap up by week’s end.
Consumer Financial Protection Bureau Director Richard Cordray, who testified before the Senate Banking Committee last week in connection with its second semiannual report, is slated to testify Thursday before the House Financial Services Committee. In last week’s hearing, Cordray answered questions about the bureau’s efforts to garner input from stakeholders and exemptions for small institutions.
On Wednesday, Hope Enterprise Corporation/Hope CU CEO Bill Bynum, named vice chairman of the CFPB’s Consumer Advisory Board last week, will participate in a roundtable discussion before the Senate Small Business and Entrepreneurship Committee. The discussion, "Closing the Wealth Gap through the African-American Entrepreneurial Ecosystem," will be led by Sen. Mary Landrieu, D-La., who chairs the committee. Other participants include Mignon Clyburn, commissioner, Federal Communications Commission; Marie Johns, deputy administrator, Small Business Administration; Kasim Reed, mayor, Atlanta, Ga.; Marc Morial, president and CEO, National Urban League; Ron Busby, president, U.S. Black Chamber Inc.; and Miriam Brewer, director of education and diversity, International Franchise Association.
A joint hearing on taxation will be held Thursday by the House Ways and Means Committee and the Senate Finance Committee. The hearing will examine capital gains in the context of comprehensive tax reform. The committees will be looking into what impact the capital gains tax rate has on investor behavior and how it affects ordinary Americans and their income levels.