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NAFCU is heavily engaged with regulators and lawmakers this week as the NCUA Board prepares for discussion of the proposed closure of the Temporary Corporate Credit Union Stabilization Fund (TCCUSF) and the House Small Business Committee gets ready for a hearing on small business tax reform.

Also this week: The association is also offering a free webcast with information on how credit unions can recover from the Equifax data breach.

The TCCUSF closure proposal is slated for discussion Thursday during the NCUA Board's open meeting. While NAFCU respects the work the NCUA has done on its proposal to close the TCCUSF, NAFCU members are opposed to it because they want a full refund – instead of the much smaller portion that is being proposed.

The NCUA's proposal would close the TCCUSF, merge the fund's assets and liabilities into the National Credit Union Share Insurance Fund (NCUSIF) and increase the NCUSIF's normal operating level from 1.3 percent to 1.39 percent – the highest level in the fund's history. NAFCU is heeding its members' concerns, and it will continue to advocate for a full TCCUSF refund on behalf of all credit unions.

The House Small Business Committee hearing on small business tax reform is set for 11 a.m. Eastern Wednesday. NAFCU lobbyists report that there is currently no threat to credit unions' tax exemption, but the association remains vigilant in touting the importance of the exemption to the industry, consumers and the economy as a whole.

The Senate this week is also expected to vote on the Graham-Cassidy health-care plan, designed by Sens. Lindsey Graham, R-S.C., and Bill Cassidy, R-La., which is meant to repeal and replace the Affordable Care Act. The Senate Finance Committee is holding a hearing on the proposal today.

In other hearings this week:

• The House Judiciary Committee will review the oversight of agency compliance with the Congressional Review Act Thursday. Legislators can use the Congressional Review Act to overrule new federal regulations with a joint resolution of disapproval within 60 legislative days after regulators have submitted the rule to Congress. In July, the House passed a resolution expressing disapproval of the CFPB's arbitration rulemaking. The Senate has yet to vote on the resolution.

Next week, Equifax Chairman and CEO Richard Smith will be on Capitol Hill testifying about the company's recent data breach before the House Energy and Commerce Committee Oct. 3 and the Senate Banking Committee Oct. 4.

The Senate Banking Committee Oct. 3 will also be taking another look at Wells Fargo – one year after news broke of the bank creating false consumer accounts. Timothy Sloan, chief executive officer and president of the company, is set to testify during the hearing.