Newsroom
September 10, 2018
This week: More than 300 CU advocates take Capitol Hill with NAFCU
NAFCU's award-winning advocacy will be front and center in Washington this week as more than 300 credit union leaders and advocates fly-in for the association's Congressional Caucus. In addition to hosting Caucus sessions and Hill meetings, NAFCU will also monitor activity in the House and Senate – both are in session this week – for tax reform, data security and S. 2155 implementation.
- Congressional Caucus – sponsored by Mastercard – begins tomorrow evening with a Welcome Reception for attendees. Credit union representatives will hear from dozens of top lawmakers – including House Financial Services Committee Chairman Jeb Hensarling, R-Texas, Sen. Rand Paul, R-Ky., and House Democratic Whip Steny Hoyer, D-Md. – on issues critical to the credit union industry (see full agenda and speaker schedule for more details).
- In Congress, NAFCU will be monitoring two bills this week:
- Another tax reform bill from House Ways and Means Committee Chairman Kevin Brady, R-Texas, is anticipated to be introduced with a mark-up possible later in the week. The bill is expected to deal primarily with savings-related tax breaks and individual tax cuts. NAFCU is engaged to ensure credit unions' federal tax exemption is not affected in this second round of tax reform.
- A data security bill was introduced last week by House Financial Services Subcommittee Chairman Blaine Luetkemeyer, R-Mo., who is set to speak at Congressional Caucus Friday. It would require data breach notifications for financial institutions; NAFCU will continue to advocate for credit unions' data security priorities. The association, which has been a leader in calling for a national data security standard, has worked closely with Luetkemeyer on this legislation since he released a draft earlier this year.
- The Senate Banking Committee on Thursday will hold a hearing on the implementation of the NAFCU-backed Economic Growth, Regulatory Relief, and Consumer Protection Act (S. 2155). NCUA Chairman J. Mark McWatters is slated to testify, along with leaders from the Office of the Comptroller of the Currency (OCC), Federal Reserve Board of Governors and Federal Deposit Insurance Corporation (FDIC).
NAFCU remains engaged with the House Financial Services Committee on opportunities to provide credit unions with even more regulatory relief.
Also happening this week:
- NAFCU's Legislative and Regulatory Committees will meet in-person Tuesday and Thursday, respectively, during Congressional Caucus.
- Friday is the last chance to save $200 off registration for NAFCU's Lending Conference – Nov. 5-7 in St. Petersburg, Fla. – with the code LENDSAVINGS.