Credit union trades have a busy morning on Capitol Hill, withimportant hearings in both the House and Senate.

The House Financial Institutions Subcommittee will source twocredit union executives for its hearing on the impact of growingregulatory burdens on small institutions. Ed Templeton, president/CEO of the $630 million SRP FCU in NorthAugusta, S.C., and Terry West, president/CEO of the $4.7 billion VyStar CU inJacksonville, Fla., will testify on behalf of NAFCU and CUNArespectively.

The hearing, scheduled for 10 a.m. in the Rayburn building, isof particular importance because Subcommittee chair Rep. ShelleyMoore Capito (R-W.Va.) and the panel's ranking member Rep. CarolynMaloney (D-N.Y.) co-authored HR 3461, the Financial Institutions Examination Fairness andReform Act, which is supported by both trade organizations.

The hearing can be watched live via webcast from a link on theFinancial Services committee's website.

At 10 a.m. in the Dirksen Building, the Senate BankingSubcommittee on Economic Policy will investigate the pros and consof reauthorizing and reforming the National Flood InsuranceProgram. That hearing can be viewed live online on C-SPAN'swebsite.

NAFCU submitted a letter supporting reauthorization of theprogram to Sens. Jon Tester (D-Mont.) and David Vitter (R-La.), the chairman and ranking member of thatsubcommittee.

According to the letter from NAFCU Executive Vice Presidentof Government Affairs Dan Berger, the National Flood InsuranceProgram is scheduled to expire at the end of May, which could leavemillions of American families without flood insurance, and makeextra work for credit unions that would have to send out floodinsurance requirement notices to members.

The Flood Insurance Reform and Modernization Act of 2011 wasvoted out of the Senate Banking committee by voice last year, andwould have reauthorized the program until 2016.

Should it be taken up on the Senate floor this year, Bergerwrote that NAFCU would continue to advocate for a provision thatwould explicitly allow lenders to collect premiums for force-placedflood insurance during the 45-day notification period if borrowerslet policies lapse. The provision was included in a similarbill that passed the House last year.