This week: Congress in D.C., NCUA conducts board meeting 

The House and Senate are in Washington D.C., this week, and America’s Credit Unions will be engaged with activities on Capitol Hill, as well as the NCUA’s May board meeting.  

The House is scheduled to vote on a bill to create a framework for digital assets that aims to create innovation while protecting investors and financial stability. Additionally, the Senate Permanent Subcommittee on Investigations will hold a hearing May 21 at 2:30 p.m. Eastern on Zelle fraud. Also, the House Energy and Commerce Subcommittee on Innovation, Data, and Commerce is expected hold a markup May 22 for the American Privacy Rights Act. America’s Credit Unions President/CEO Jim Nussle expressed the organization’s concerns with the bill in letter to the committee last month.

The NCUA Board’s rescheduled meeting includes a quarterly update on the National Credit Union Share Insurance Fund (SIF). The meeting is scheduled to begin Wednesday at 10 a.m. Eastern and streamed live on its website.  Of note, NCUA Chairman Todd Harper submitted a written testimony to the Senate Banking and House Financial Services Committees last week. America’s Credit Unions President/CEO Jim Nussle responded by noting that changes are not needed to the SIF.

The NCUA is also hosting a webinar Thursday on how credit unions can connect with potential sources of federal funding, including the Community Development Revolving Loan Fund. The free webinar is scheduled for 2 p.m. Eastern, and registration is still open.  

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