The hearing will take place the day after Valentine’s Day, but there probably won’t be any candy and flowers for the witnesses.
Credit unions are pushing for passage of a patent reform bill that the Senate is likely to vote on soon that could limit their exposure to patent infringement lawsuits.
CUNA’s PAC raised $93,774 in April and NAFCU’s raised $14,250, according to forms filed with the Federal Election Commission.
If money, as a former state official said, is the mother’s milk of politics, neither major CU trade is in danger of being lactose deprived any time soon.
The issue of regulating interchange fees will be one of the topics lawmakers have to deal with when the House-Senate conference committee meets today to reconcile the differences between the financial reform bills passed by both chambers.
Any change to the rules regarding interchange fees would "provide an advantage to large financial institutions at the expense of credit unions and other small financial services providers,"
Any change to the rules regarding interchange fees would "provide an advantage to large financial institutions at the expense of credit unions and other small financial services providers."
The campaign giving patterns of CUNA and NAFCU in February could be best described as the calm before the proverbial storm.
National party committees and senior lawmakers on the committees that oversee credit unions are among the recipients of contributions from the political action committees of CUNA and NAFCU.