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November 30, 2020

This week: NAFCU meets with key agencies; NCUA reviews budget, awaits board member vote

Capitol HillAs Congress returns to Washington to tackle several big issue items before the end of the year, NAFCU's award-winning advocacy team will be engaged on Capitol Hill ensuring the credit union industry voice is heard while also meeting with key agencies to discuss industry priorities.

The Senate is expected to vote this week on the nomination of Kyle Hauptman to the NCUA Board. Hauptman would replace J. Mark McWatters, who resigned from the board Nov. 20 ahead of Hauptman's confirmation vote. NAFCU will keep credit unions informed as the chamber considers the nomination.

In other NCUA happenings, the NCUA Board Wednesday will hold a public hearing on its proposed 2021-2022 budgets. The proposal reduces the 2021 budget, resulting from a surplus of travel funds this year and lower estimated travel budget next year due to the coronavirus pandemic. NAFCU Chief Economist and Vice President of Research Curt Long is set to provide comments to the agency during the hearing; Long also testified last year and recommended ways for the agency to achieve cost savings while allowing credit unions to better serve their members.

In addition to Hauptman's nomination vote, NAFCU is engaged with lawmakers on end-of-the-year priorities. NAFCU has outlined 12 items Congress and regulators can get done yet this year (read more here), and continues to monitor conference committee work on the fiscal year 2021 National Defense Authorization Act (NDAA), negotiations on government funding ahead of the Dec. 11 deadline, and coronavirus relief efforts. The Treasury Department and Federal Reserve will testify before the Senate Banking Committee tomorrow and the House Financial Services Committee Wednesday on the administration's pandemic response programs.

NAFCU also has a full lineup of meetings this week with leaders at various agencies. Here's a look at what's on the lineup; stay tuned to NAFCU Today for insights into the discussions: