Senate Banking Committee leaders to address CUs at Caucus
Senate Banking Committee Chairman Mike Crapo, R-Idaho, and Ranking Member Sherrod Brown, D-Ohio, are the newest editions to NAFCU's Virtual Congressional Caucus lineup. In their leadership positions, Crapo and Brown play an integral role in shaping discussions and legislative policies related to credit unions and various financial services issues.
"Our annual Congressional Caucus is my favorite event of the year because it allows credit unions to get insights directly from the decision makers that influence their operating environment," said Carrie Hunt, NAFCU's executive vice president of government affairs and general counsel. "Our speakers have been known to provide important policy insights and announcements at Caucus, and given the challenges we're facing this year with the coronavirus pandemic, I'm personally looking forward to hearing what lawmakers, administration officials, and regulators have to share with our industry."
NAFCU works closely with Sens. Crapo and Brown to ensure they are aware of credit unions' positions on issues reviewed by the Senate Banking Committee. The association kicked off 2020 on Capitol Hill, meeting with both senators, to share priorities for the year and legislative solutions that allow the credit union industry to thrive.
In recent weeks, NAFCU has engaged with Crapo and Brown on:
- streamlining the loan forgiveness process for the Small Business Administration's (SBA) paycheck protection program (PPP);
- urging the Federal Housing Finance Agency (FHFA) to reverse its decision to assess a 0.5 percent adverse market fee to certain mortgage refinances;
- supporting amending the fiscal year 2021 National Defense Authorization Act (NDAA) to include Bank Secrecy Act (BSA)/anti-money laundering (AML) reforms and remove the credit union-opposed provision related to nominal leases on military bases;
- extending relief related to troubled debt restructurings (TDRs) and the NCUA's Central Liquidity Facility (CLF), of which Crapo is supportive, and more in the Phase 4 coronavirus relief package; and
- defending credit unions' tax-exempt status and calls for relief from the member business lending (MBL) cap.
In addition to Crapo and Brown, other lawmakers and leaders from the FHFA, CFPB, NCUA, and SBA are set to address attendees.
NAFCU's Virtual Congressional Caucus is happening Sept. 14-15; registration is open. Visit the event webpage to see the full agenda, request virtual Capitol Hill meetings with representatives and senators, access resources on key issues and more.
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