This week: Regulatory relief floor votes, NCUA board nominee hearing

The House and Senate are both in Washington, D.C., this week and are expected to pass the bipartisan housing bill with credit union regulatory relief before the week is over. The Senate cleared all of its procedural hurdles to pass the bill last week and should pass it and send it to the House as soon as this evening. The House is expected to clear it before the end of the week and send to President Trump for his signature.

The 21st Century ROAD to Housing Act contains language modernizing federal credit union board requirements, codifying a mentorship program for small credit unions, and assisting formation of de novo credit unions.

Tomorrow, America’s Credit Unions PAC is supporting 30 candidates in primaries in Maryland, New York, and Utah. This includes former Rep. Ben McAdams in his bid to return to Congress, supported by an independent expenditure from America’s Credit Unions PAC.  

The Senate Banking Committee will conduct a hearing with NCUA board nominee John Crews Thursday. The committee will also conduct a hearing on affordability Tuesday.

Wednesday, the House Financial Services Committee plans to conduct a hearing on the future of payments.

The NCUA’s open board meeting is scheduled for Wednesday.  The agenda includes a regulatory update, share insurance fund quarterly report, and mid-year budget update.

There are several regulatory comment deadlines this week: 

• Comments are due today on NCUA’s proposal amending mergers of insured credit unions into banks;
• Tomorrow, comments are due on NCUA’s request for information on enhancing and streamlining data collection from credit unions;
• Friday, comments are due on three Nacha requests for information: the definition of “banking day,” dishonored and contested/corrected dishonored return timeframes, and return efficiencies.