This week, America’s Credit Unions will monitor several hearings in the House and Senate, as well as the April NCUA Board meeting. In addition, the organization kicks off Regulatory Compliance Certification School in Fort Lauderdale, Fla., and the sold-out Board of Directors and Supervisory Committee Conference in Newport, R.I., today. 

At the NCUA, the board is expected to issue an advance notice of proposed rulemaking on its records preservation program. The board meeting will begin at 10 a.m. Eastern Thursday. Credit unions can view a livestream of the meeting on the agency’s website.   

On Capitol Hill, as arbitration continues to be an issue among policymakers, Rep. Andy Barr, R-Ky., and Sen. Thom Tillis, R-N.C., sent a letter to CFPB Director Rohit Chopra last week arguing the bureau’s recent rulemaking petitions “represent a significant abuse of the CFPB’s power and rulemaking process.” America’s Credit Unions also recently shared concerns about efforts to restrict arbitration, noting analysis of CFPB data shows no connection between the use of arbitration and increased violations of law. America’s Credit Unions’ legacy organizations opposed the original arbitration rule and supported the Congressional Review Act resolution that overturned it in 2017. 

America’s Credit Unions will also monitor and engage with several committee hearings this week, including: 

• tomorrow, the House Financial Services Subcommittee on Financial Institutions and Monetary Policy will review the CFPB’s financial reporting and transparency; 
• tomorrow, the Senate Banking Subcommittee on Housing, Transportation, and Community Development will review the challenges in preserving housing stock;
• tomorrow, the House Financial Services Subcommittee on National Security, Illicit Finance, and International Financial Institutions will tackle how ransomware endangers the financial system; and 
• Thursday, the Senate Banking Committee will provide oversight of federal housing regulators and hear from Department of Housing and Urban Development Acting Secretary Adrianne Todman and Federal Housing Finance Agency Director Sandra Thompson. 

Stay tuned to America’s Credit Unions for the latest out of Washington.