This week: Congress returns, Hauptman to testify

Congress is back in Washington this week and is expected to resume work on reconciliation 2.0, which failed to advance prior to the Memorial Day recess. NCUA Chairman Kyle Hauptman will testify before the House Financial Services Committee on Thursday as part of the semiannual testimony from federal financial regulators.

America’s Credit Unions PAC will be supporting 55 candidates in primary elections in California, Iowa, Montana, New Jersey, New Mexico, and South Dakota Tuesday. This includes support for incumbent credit union champions Reps. Young Kim, R-Calif., and Brad Sherman, D-Calif., both facing primary challenges in newly drawn districts. America’s Credit Unions has launched ad campaigns in support of both Kim and Sherman.

Other highlights this week include:

• Tomorrow, comments are due on the Treasury’s GENIUS Act proposal on determining when a state-level regulatory regime is substantially similar to the federal regulatory framework;
• Also tomorrow, comments are due on the Federal Communications Commission’s proposal for telecommunications providers that use offshore call centers;
• Wednesday, House Energy and Commerce Subcommittee on Commerce, Manufacturing, and Trade will conduct a hearing on establishing a comprehensive federal data privacy and security law; and 
• Treasury Secretary Scott Bessent will testify on Treasury’s FY27 budget before the Senate Finance Committee Wednesday and the House Ways and Means Committee Thursday.