Both set to meet after the mid-term election to discuss proposal that limits payday lending at credit unions.
As credit unions hunker down in defense of their federal tax exemption, the industry does have one thing in its favor. There are no known enemies among leadership on the House Ways and Means or Senate Finance Committees.
These powerful leaders oversee financial institutions and the NCUA, originate tax reform and wield considerable influence.
House Democrats set aside seniority today and chose Rep. Sander Levin (D-Mich.) to chair the Ways and Means Committee.