Washington Wire – Nov. 7, 2017

Last week was a whirlwind in Washington.  Senate Banking Committee Ranking Member Sherrod Brown (D-OH) “walked away” from negotiations with Chairman Mike Crapo (R-ID) on a package of regulatory relief for smaller financial institutions, including credit unions.  While disappointing, we are encouraging all parties to return to the negotiating table and craft a package that […]

Last week was a whirlwind in Washington.  Senate Banking Committee Ranking Member Sherrod Brown (D-OH) “walked away” from negotiations with Chairman Mike Crapo (R-ID) on a package of regulatory relief for smaller financial institutions, including credit unions.  While disappointing, we are encouraging all parties to return to the negotiating table and craft a package that will remove unnecessary and unneeded regulatory burdens on credit unions.
On the Floor, the House is scheduled to vote on H.R. 3043, the Hydropower Policy Modernization Act of 2017; H.R. 2201, the Micro Offering Safe Harbor Act; H.R. 3441, the Save Local Business Act; and H.R. 2874, the 21st Century Flood Reform Act. The Senate is expected to consider of number of Executive Branch and judicial nominations.
In Committee today, the House Financial Services Housing and Insurance Subcommittee will hold another hearing on sustainable housing finance; the House Financial Services Monetary Policy and Trade Subcommittee will hold a hearing to examine proposals to reform the Federal Reserve; and the Senate Banking, Housing, and Urban Affairs Committee will markup S.1591, a bill to impose sanctions with respect to the Democratic People’s Republic of Korea.
On Wednesday, hearings include the House Financial Services Monetary Policy and Trade Subcommittee review of the administration’s priorities for international financial institutions and the House Financial Services Terrorism and Illicit Finance Subcommittee review, entitled “Financial Intelligence and Enforcement:  Treasury’s Role in Safeguarding the American Financial System.”
On Thursday, the House Financial Services Housing and Insurance Subcommittee will hold a hearing to examine the role of Ginnie Mae in the housing finance system. Read the full Washington Wire here.
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The League of Southeastern Credit Unions & Affiliates represents 342 credit unions in Alabama, Florida and Georgia, with a combined total of $118.63 billion in assets and more than 10.1 million members. LSCU & Affiliates provides legislative and regulatory advocacy; education and training; cooperative initiatives (including financial education outreach); public messaging; information services; and business solutions.

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