This week: Congress in recess, comments due to CFPB

The National Mall in Washington, D.C.

The House and Senate begin a two-week recess after coming to an agreement on funding several areas of the government through Sept. 30. America’s Credit Unions, Leagues, and credit unions will engage with policymakers over the recess, and credit unions are encouraged to meet with elected officials in their home districts.

Priorities include:

  • Reinforcing opposition to the Big Box Bailout bill, especially with bill sponsors likely to attempt to attach it to upcoming legislation.
  • Support for legislation that would halt implementation of the Federal Reserve’s debit interchange proposal until its impact can be studied. Credit unions can encourage their legislators to co-sponsor the bill or thank their members of Congress that have signed on through America’s Credit Unions Grassroots Action Center.

In addition, comments are due to the CFPB Monday on the bureau’s proposal to prohibit financial institutions from charging fees when transactions are instantaneously declined.

America’s Credit Unions is also seeking comments by Friday on the CFPB’s proposal to apply Truth in Lending Act provisions to overdraft services. Comments on the proposal are due to the CFPB April 1.

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