Thank you for sharing!

Your article was successfully shared with the contacts you provided.

WASHINGTON-NCUA Vice Chair JoAnn Johnson recently met with Senator Chuck Grassley (R-Iowa) to discuss the prospects for bankruptcy reform before jetting off to Iowa to spend Easter with her family. “I always welcome the opportunity to see my Senator,” Johnson remarked. The bankruptcy reform legislation (H.R. 975), which Grassley has sponsored in the Senate, was a main topic of discussion, she said. Her Senator explained to her that it would likely be the House version of the bill that would move through the Senate, if it does. The House version did not include the controversial abortion clinic language-the so-called Schumer amendment-and does include language providing parity to NCUA with FDIC involving qualified financial contracts in liquidations. Currently the two agencies are treated equally but somehow this language was inadvertently overlooked in the Senate version. Johnson advocated that if the Senate version did move that the language be added. One of Grassley’s staffers told Johnson that she had heard more of a buzz about the bill lately, which may indicate interest in moving it forward. Johnson and Grassley also talked about Iowa and she briefly took the opportunity to raise the credit union taxation issue.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?


Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times
Live Chat

Copyright © 2022 ALM Media Properties, LLC. All Rights Reserved.