May 23, 2014

NAFCU legislative team briefs CUs on Hill actions

May 27, 2014 – NAFCU's legislative team discusses the latest happenings on Capitol Hill on issues such as risk-based capital, housing finance reform and regulatory relief in a NAFCU Today video update.

NAFCU Senior Vice President of Government Affairs and General Counsel Carrie Hunt, Vice President of Legislative Affairs Brad Thaler and Director of Legislative Affairs Jillian Pevo guide credit unions through the last few weeks of actions taken by Congress, including:

  • The Senate Banking Committee's markup of housing finance reform draft legislation by committee Chairman Tim Johnson, D-S.D., and Ranking Member Mike Crapo, R-Idaho, which was favorably reported out of the committee on a close vote of 13-9 and awaits Senate action.
  • House-passed H.R. 3468, the "Credit Union Share Insurance Fund Parity Act," which would ensure credit unions have parity with FDIC-insured institutions in share insurance coverage of escrow accounts such as Interest on Lawyers Trust Accounts.
  • The NAFCU-supported letter from House members – 324 in all – expressing concerns to NCUA Board Chairman Debbie Matz about the agency's risk-based capital proposal.

Hunt also encouraged credit unions to attend NAFCU's 47th Annual Conference and Solutions Expo July 22-26 in Las Vegas, where NAFCU's government affairs team will speak on a panel on legislative developments.