WASHINGTON — Things are happening in Washington for a handful of pieces of legislation of concern to credit unions.
Of primary importance to credit unions, CUNA lobbyist John Hildreth said that CUNA has been informed by Congressman Ed Royce (R-Calif.) that House Financial Services Committee Chairman Barney Frank (D-Mass.) has promised a full committee hearing on CURIA, However, no date has been set.
Additionally, later this afternoon, the full House will vote on the Industrial Bank Holding Company Act of 2007 (H.R. 698). The bill aims to maintain a separation of banking and commerce after Wal-Mart applied for an industrial loan company charter. The bill has been placed on the suspension calendar for non-controversial pieces of legislation. However, the bill is not expected to go anywhere in the Senate because of objections by Senator Bob Bennett (R-Utah), the second ranking Republican on the Senate Banking Committee.
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Tomorrow, the House is also expected to conclude debate and vote on the Federal Housing Finance Reform Act of 2007 (H.R. 1427), better known as the GSE bill, which would strengthen regulation of the house government sponsored enterprises.
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