WASHINGTON–Congress will begin a three-week session this week before adjourning for 2025, and it has a lot on its agenda, including the National Defense Authorization Act (NDAA).
As the CU Daily has reported, while credit unions were happy to see the Senate Appropriations Committee propose an increase in funding for the Community Development Financial Institutions Fund of $50 million more than the House has proposed, the NDAA in which that funding is included has hit some bumps in the House because of the CDFI Fund.
Meanwhile, there are several hearings taking place this week in which credit unions have an interest, including:
Tuesday
- The House Financial Services Committee will hear testimony will hear semi-annual testimony from federal financial regulators, including NCUA Chairman Kyle Hauptman. The hearing is available via livestream starting Tuesday at 10 a.m. E.T.
- The House Small Business Committee will conduct a hearing, “Main Street Under Attack: The Cost of Crime on Small Businesses,” starting at 10 a.m. E.T.
Wednesday
The House Small Business Committee will conduct a hearing, “Main Street Under Attack: The Cost of Crime on Small Businesses,” starting at 10 a.m. E.T.
Comment Deadlines
Separately, America’s Credit Unions is reminding that comments on two proposals are due by the end of today, including:
- Financial Crimes Enforcement Network (FinCEN) request for information on Section 314(a) of the PATRIOT Act, which requires credit unions and other financial institutions to determine whether they maintain or have maintained any account or transaction for a named individual or entity and report any matches promptly
- NCUA renewal of information collections on standards for the performance of real estate appraisals in connection with federally related transactions and the regulatory framework for corporate credit unions.
- Young credit union professionals can also apply to “crash” the Governmental Affairs Conference (GAC) 2026 through the Cooperative Trust’s “Crash the GAC” program. Applications are due today.
