This week: Deregulatory, AML/CFT comments due, primaries in four states

This week brings plenty of policy activity for credit unions, on Capitol Hill with both chambers in session and on the regulatory front. The Senate passed a version of the “reconciliation 2.0” bill last week without any tax provisions, it now heads back to the House.

Today, comments are due on the ninth round of NCUA’s Deregulatory Project proposals. This round covers amendments to the associational common bond provisions of its chartering and field of membership rules.

Tomorrow, comments are due on three separate anti-money laundering/countering the financing of terrorism proposals, one from the NCUA, one from the Financial Crimes Enforcement Network (FinCEN), and one jointly issued by NCUA, Office of the Comptroller of the Currency, and Federal Deposit Insurance Corporation.

Also tomorrow, America’s Credit Unions is supporting 11 credit union champions in four state primaries: Maine, Nevada, North Dakota, and South Carolina. The Credit Union Elections Hub contains results from primaries that have taken place, and will be updated Wednesday with this week’s results.

Hearings covering credit union issues this week include:

• Tuesday, the House Ways and Means Committee will conduct a hearing on digital asset taxation;
• Also Tuesday, the Senate Armed Services Committee will begin a closed markup of its FY27 National Defense Authorization Act; and 
• Thursday, the Senate Banking Committee will conduct a hearing on artificial intelligence.

Finally, comments are due on two proposals Friday: The Internal Revenue Service’s excise tax on remittance transfers and a Nacha proposal on adding the U.S. Treasury to the ACH Contact Registry.