WASHINGTON–With the House sent home early, the Senate this week continues to work through a number of bills, primarily those with bipartisan support.
Prior to adjourning, the House Financial Services Committee did complete mark-up on 16 bills across what Greg Mesack, senior vice president of government affairs with America’s Credit Unions, called a “grab bag” of issues, none of which are really significant to credit unions.
Among those bills was the Supervisory Modifications for Appropriate Risk-based Testing (SMART) Act, sponsored by Rep. William Timmons (R-SC), which has credit union support.
“We think there’s a good pathway to the floor, because almost every single bill passed with a broad bipartisan vote,” said Mesack. “It’s great to see the bipartisanship; Republicans and Democrats working together on some common sense, small, modest reforms.”
28 Housing Bills
On the Senate side, the Banking Committee marked up a package of 28 different housing bills that Mesack said are “pretty modest” in scope and which also have bipartisan support—hence the reason they are moving. All of that legislation mostly steers clear of anything related to finance and as a result have little effect on credit unions, with the exception of one small revision related to mortgages.
The Senate will also deal with nominations.
