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NAFCU will monitor hearings in the House tomorrow on fundamental tax reform proposals and another on oversight of the Federal Communications Commission. The Senate begins a two-week recess today.

The House Ways and Means Tax Policy Subcommittee will hold a hearing to review various tax reform proposals. This will be the first hearing in a series where members will share, discuss and promote their tax reform proposals. Committee member Devin Nunes, R-Calif., will testify during this hearing on his tax reform bill, which specifically exempts credit unions. The hearing is slated to begin at 2:30 p.m. Eastern.

The House Energy and Commerce Subcommittee on Communications and Technology, also tomorrow, will discuss the oversight of the Federal Communications Commission in a hearing set for 10:15 a.m. Eastern.

In other hearings Tuesday:

• The House Financial Services Committee will hear testimony from Treasury Secretary Jack Lew on the state of the international financial system.
• The House Financial Services Subcommittee on Housing and Insurance is looking at the future of housing in America along with regulations and the high cost of housing.
• The House Committee on Armed Services will review the fiscal 2017 national defense authorization budget request from the Department of Defense.
• The House Homeland Security Cybersecurity, Infrastructure Protection, and Security Technologies Subcommittee will review the role of cyber insurance in risk management.

This Thursday, the NCUA Board, in open session, is scheduled to act on a final rule on investments in bank notes, hear a report on the Temporary Corporate Credit Union Stabilization Fund and discuss a program to integrate management of the agency's credit union-facing websites and technology. The meeting is set for 10 a.m. Eastern.

Also on Thursday, NAFCU Senior Regulatory Affairs Counsel Michael Emancipator and Regulatory Affairs Counsel Alexander Monterrubio will attend CFPB's Credit Union Advisory Council meeting on the bureau's strategic outlook and elder financial abuse.