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NAFCU's advocacy team will be working in overdrive this week as lawmakers take their next steps in dealing with the issues of financial industry regulatory relief, comprehensive tax reform and flood insurance.

The coming week also includes a packed agenda for the NCUA Board's June 23 open meeting, one day after agency Acting Chairman J. Mark McWatters testifies before the Senate Banking Committee.

NAFCU will be reporting on these developments throughout the week. Here's a closer look at each:

• Tuesday: House Speaker Paul Ryan, R-Wis., gives remarks on tax reform before the National Association of Manufacturers. News of Ryan's scheduled address emerged as Senate Finance Committee Chairman Orrin Hatch, R-Ore., put out a call for proposals and feedback on how to overhaul the nation's tax code. NAFCU is keeping lawmakers informed about the value to the nation's economy of credit unions' federal tax exemption.
• Wednesday: The House Financial Services Committee resumes mark-up of flood insurance bills. Last week, the panel, voting 30-26, approved a bill to reauthorize and scale back the National Flood Insurance Program past September. It also voted 53-0 to approve a bill introduced by Rep. Lee Zeldin, R-N.Y., to limit premium increases for residential properties to $10,000 per year, a provision supported by NAFCU. NAFCU supports extending the NFIP. Read more.
• Thursday: NCUA Acting Chairman McWatters testifies before the Senate Banking Committee in a hearing titled "Fostering Economic Growth: Regulator Perspective." This is part of a series of hearings on fostering economic growth and will also include witnesses from the Federal Reserve, FDIC, Office of the Comptroller of the Currency and Texas' banking regulatory agency (on behalf of the Conference of State Bank Supervisors).
• Friday:The NCUA Board meets in open session (the closed meeting will be held this Wednesday). Open meeting agenda items include a request for comments on the agency's overhead transfer rate methodology; final rule on a safe harbor for assets transferred by a federally insured credit union as part of a securitization of participation; final rule implementing statutory adjustments of civil money penalties; and revisions to the agency's Freedom of Information Act rules.

Friday's open NCUA Board meeting will also include a briefing on the agency's Enterprise Solution Modernization is also slated.