This week: Congress returns, deposit insurance on agenda

With the shutdown over, both chambers of Congress are on Capitol Hill this week for the first time since September.  There are multiple meetings and activities postponed over the last month and a half that are now scheduled as legislators make up for lost time. Credit unions are still encouraged to submit their shutdown-related services to the government shutdown assistance survey. An ongoing list is available on the America’s Credit Unions designated webpage, outlining credit unions’ service to members.

The House Financial Services Committee is holding a hearing on the future of deposit insurance Tuesday at 10 a.m. Eastern. Lawmakers will discuss a legislative proposal to require the NCUA—along with other federal financial regulators—to perform an analysis on raising insurance coverage amounts and establish emergency transaction account guarantee programs.  

Hanscom Federal Credit Union President/CEO Peter Rice testified before the Senate Banking Committee in September with specific deposit insurance reform recommendations.

Also taking place this week:

• Tuesday the CFPB hosts a webinar on elder financial exploitation that will include emerging research and innovative programs on protecting older adults, starting at 2 p.m. Eastern; and
• Wednesday the Senate Small Business Committee conducts a rescheduled hearing on the administration’s regulatory rollback, starting at 2:30 p.m. Eastern.

The originally scheduled Nov. 20 NCUA board meeting is withdrawn from the calendar, with the final meeting of 2025 tentatively scheduled for Dec. 18.