WASHINGTON — While the Consumer Overdraft Protection Fair Practices Act (H.R. 946) has not gone away, CUNA has received strong indications that it has been delayed.

The House leadership has said that no legislation that is not out of committee by Nov. 16 will get full House consideration until next year. CUNA Vice President of Legislative Affairs Ryan Donovan explained, "We do not expect the Financial Services Committee to meet to consider legislation this week." However, the committee could still hold a markup on the legislation by the end of the session.

"We have been pushing the committee for a number of weeks to consider whether or not overdraft amendments should be done under the Truth in Savings Act as opposed to the Truth in Lending Act," Donovan said. TILA would require financial institutions to disclose overdraft fees as an APR, which would almost automatically put credit unions in violation of the Federal Credit Union Act usury cap. Congresswoman Carolyn Maloney (D-N.Y.), primary sponsor to the bill, has reportedly said that was an unintended consequence and was looking for a solution.