WASHINGTON–At the close of mark-up, the House Financial Services Committee advanced several bills that have the support of America’s Credit Unions.
The legislation includes:
The Housing for the 21st Century Act (H.R. 6644)
HR 6655 would update statutory loan limits for Federal Housing Administration mortgage insurance for multifamily projects; and reform and improve the HOME Program, and Rural Housing Service. It passed 50-1.
The NFIP Extension Act of 2026 (H.R. 5577)
HR 5577 would provide a clean one-year extension of the National Flood Insurance Program. It passed 53-0
The Regulatory Efficiency, Verification, Itemization, and Enhanced Workflow (REVIEW) Act (H.R. 6544)
HR 6544 would include all Federal Financial Institutions Examination Council regulators, including NCUA, in the Economic Growth and Regulatory Paperwork Reduction Act review process and shortening the process to seven years (from the current 10). It passed 30-23
The New Bank Application Numbers Knowledge (New BANK) Act (H.R. 6551), Merger Agreement Approvals Clarity and Predictability Act (H.R. 6570), and Merger Process Review Act (H.R. 6546)
The bills the NCUA and credit unions as part of their reviews of merger processes. All three passed unanimously.
In advance of the markup, America’s Credit Unions said it wrote in support of those bills and urged the committee to consider additional credit union priorities as it examines measures to aid community financial institutions.
Emerging Issues Committee Discussions
Separately, America’s Credit Unions said its Emerging Issues Committee met to examine key payments, technology and regulatory developments affecting credit unions.
Among the issues discussed, according to the trade group:
- Federal Reserve payments services: A review of recently announced Reserve Bank Services pricing changes was held, alongside discussion of the Federal Reserve’s request for comment on the future of check services as volumes continue to decline.
- Payments modernization and fraud mitigation: Consideration of potential service enhancements across Fed payments platforms including check services, FedACH, Fedwire, and FedNow, and the Fed’s planned introduction of a Payee Name Verification tool to help reduce fraud and misdirected payments.
- CFPB data rights and digital asset policy: Updates on the CFPB’s anticipated interim final rule revising the Section 1033 Personal Financial Data Rights Rule, including the agency’s resource constraints were discussed; as well as member discussion on stablecoin-related services, digital asset access, and regulatory clarity following passage of the GENIUS Act.
- Small business lending data: Review of America’s Credit Unions’ recently submitted comments supporting proposed revisions to Section 1071 data collection requirements. The discussion focused on borrower privacy protections and the publication of aggregate lending data.
New Leader of the PAC
America’s Credit Unions announced new leadership for its PAC as it closes out a what it said has been a successful 2025.
Dan Schline, president & CEO of the Carolinas Credit Union League, has been named chair of America’s Credit Unions PAC. Outgoing Chair John Bratsakis becomes immediate past chair and continues service on the PAC executive committee, while Caroline Willard, president & CEO of the Cornerstone League, joins the executive committee as an at-large member. Pat Conway, president & CEO of the CrossState Credit Union League, rotates off the committee.
America’s Credit Union said the newly seated PAC Executive Committee met to confirm league nominations for Trustees serving the 2026–2027 term, which begins Jan. 1, 2026. New and returning trustees were named from more than 20 states and jurisdictions nationwide, with additional appointments made to fill mid-term vacancies through Dec. 31, 2026.
With the 2026 Board of Trustees appointed, America’s Credit Unions said its PAC will convene PAC Leadership Training and its annual Trustees meeting during the 2026 Governmental Affairs Conference in Washington, D.C., and will begin a nomination process in early January to fill three at-large executive committee vacancies.
