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Congress is back in session this week and both the House and Senate will hear testimony from CFPB Acting Director Mick Mulvaney as he delivers the bureau's semiannual report. NAFCU is also continuing its work with Congress on credit union regulatory relief efforts.

The NAFCU-backed Senate regulatory relief bill (S. 2155) is still pending before the House, as is a bipartisan bill that would provide the industry with a two-year delay of the NCUA's risk-based capital (RBC) rule (H.R. 5288). NAFCU's Grassroots Action Center has all resources credit unions need to engage with their lawmakers, including contact information and background information on legislative issues. NAFCU encourages credit unions to increase their efforts and contact their legislators to discuss data security, regulatory relief and the NCUA's RBC rule.

Mulvaney is set to testify before two congressional committees this week – the House Financial Services Committee on Wednesday and the Senate Banking Committee on Thursday. Last week, Mulvaney recommended four statutory changes to the Dodd-Frank Act in order to increase oversight and accountability of the bureau. In his testimony this week, he is likely to further explain his recommendations.

On Thursday, the House Financial Services Subcommittee on Oversight and Investigations will hold an oversight hearing of the Federal Housing Finance Agency (FHFA).

In other congressional hearings this week:

• The House Small Business Subcommittee on Investigations, Oversight, and Regulations on Thursday will examine the role small businesses play in community development.
• The Senate and House Budget Committees on Wednesday and Thursday, respectively, will review the Congressional Budget Office's budget and economic outlook.
• On Thursday, the House Ways and Means Committee will hear the local perspectives on the jobs gap.
• Also on Thursday, the Senate Finance Committee will look into the 2018 tax filing season and future challenges facing the Internal Revenue Service.
• The House and Senate Appropriations Committees are reviewing various federal government departments' fiscal 2019 budgets throughout the week.

Other key events this week:

• On Tuesday, credit unions can tune into the NAFCU webinar: "Lender Pitfalls in Bankruptcy Practice." The webinar will detail the changing bankruptcy landscape, including significant changes to the CFPB's Mortgage Servicing Rule, updates in federal rules and evolving case law. Learn more and register for access to the webinar here.
• On Thursday, NAFCU Regulatory Affairs Counsel Ann Kossachev will attend a Women in Housing and Finance public policy luncheon with Small Business Administration Administrator Linda McMahon.
• On Thursday, the NAFCU webinar "Preparing for the NCVE Exam" will boost credit union volunteer directors' confidence and expertise as they prepare to become a NAFCU Certified Volunteer Expert (NCVE). The webinar will cover regulatory concerns, leadership tips and the benefits of becoming an NCVE. The webinar is free, but registration is required.