Tuesday night action repeats lame duck session passage in House. Next up is Senate, which didn't act on measure last session.
WASHINGTON — Congressmen made their points for and against the CFPB and Dodd-Frank at the final day of the GAC. John Cooke captured the images.
House passed privacy notice reduction legislation in December but Senate never took it up.
Measure would allow NCUA to allow healthy, well-managed credit unions to accept supplemental forms of capital.
Acting as primary sponsor for supplemental capital legislation and co-sponsoring every credit union bill that crosses his desk, Congressman Brad Sherman (D-Calif.) has long been a supporter of credit unions.
While President Obama won a resounding victory in his re-election quest, credit union trade groups celebrated their successes in the congressional races and turned their attention to the Congress’s lame duck session.
Sen. Mark Udall (D-Colo.), primary sponsor of S.2231, which would increase the member business lending cap to 27.5% of assets, received loud cheers as he spoke in favor of the legislation to about 500 gathered in Washington Nov. 27 to hike the hill in favor of the bill.
A vote is expected today on H.R. 5817, a bill that would eliminate the required annual privacy notice mailing, CUNA reported.
If a House bill that has picked up momentum successfully passes, this year’s annual privacy notice mailing could be the last.
Texas Republican called CFPB, Dodd-Frank "legislative drive-by shooting" at NAFCU Congressional Caucus earlier this year.