Credit unions left out on Interest on Lawyers Trust Accounts and member business lending in Transaction Account Guarantee bill.
Texas Republican called CFPB, Dodd-Frank "legislative drive-by shooting" at NAFCU Congressional Caucus earlier this year.
Eliminating the tax exemption for credit unions was mistakenly included in the House bill that contains the seven immediate reforms recommended by the National Commission on Fiscal Responsibility and Reform, its sponsoring congressman said last Wednesday afternoon.
Community bankers lobby says mistaken entry in bill "reignites the controversy."
Spokesman for U.S. Rep. Dennis Ross says exemption should be in "maintain" and not "phase-out" part of the bill.
Credit union member business lending made a to-do list published Nov. 5 by the National Journal that originated from Senate Majority Leader Harry Reid’s (D-Nev.) office.
Credit union lobbyists agree that the way Congress approaches the post-election lame duck session will largely depend upon Tuesday’s outcomes.
NAFCU, CUNA leaders tabbed as top lobbyists by The Hill.
A bill that could reduce the ability of the CFPB and NCUA to issue new regulations has some traction, NAFCU's chief lobbyist said.
House Assistant Minority Leader James Clyburn (D-S.C.) served as CUNA’s VIP guest when the trade association unveiled its Democratic National Convention leave behind project Sept. 5 during a ribbon-cutting celebration.