Second senator speaks up for credit unions in ongoing tax reform debate.
Community banks but not credit unions win specific mention in regulatory relief bills, but they still would help.
This preview from next week's print edition looks at what credit union lobbyists win, or don't win, on Capitol Hill.
Sens. Mark Warner (D-Va.) and Bob Corker (R-Tenn.) introduced legislation June 26 that would reform America’s housing finance system by replacing the government-sponsored enterprises Fannie Mae and Freddie Mac with a privately capitalized system.
Senate gets measure Tuesday that would shut down Fannie Mae, Freddie Mac and FHFA within five years and create new corporation similar to FDIC.
House, Senate both get measure that would create ombudsman outside NCUA.
Credit union trade associations shrugged off a 2014 budget amendment passed by the Senate March 22 that would “establish a deficit-neutral reserve fund to address the disproportionate regulatory burdens on community banks,” according to a release from sponsor Sen. John Boozman (R-Ark.).
Industry trade associations shrugged off the exclusion. CUNA lobbyist says "those amendments never go anywhere."
Upper chamber gets companion measure to House-passed bill that would eliminate annual privacy notice mailing.
CFPB director goes before Senate Banking Committee on Tuesday for expected testy confirmation hearing.