What May Happen

Confirmation of Kyle Hauptman to the NCUA board. Traditionally, the Senate does not confirm nominees of a president who has been defeated for reelection. However, if Hauptman, a Republican, is confirmed, Republicans would continue to control the majority on the NCUA even after Biden takes office. If Hauptman is not confirmed, Biden would get to nominate someone, who presumably would be a Democrat. Senate Majority Leader Mitch McConnell (D-Ky.) has filed a cloture motion that would allow Hauptman's nomination to go to the Senate floor this week.
Adoption of an NCUA budget. The NCUA has scheduled a budget briefing for Wednesday and is scheduled to vote on the budget at its December meeting. If Hauptman is seated by then, he will be able to vote on the budget. If he is not seated, the two remaining members, Chairman Rodney Hood and Democrat Todd Harper may clash over agency priorities, as they have during budget deliberations.
CFPB director nomination. Biden announced members of his economic team on Monday but did not name a nominee for director of the CFPB. It is widely expected that Biden will move to replace current director Kathleen Kraninger.
Additional stimulus. Congress and the Trump Administration have been haggling on and off over a new stimulus measure and the pressure builds for another bill, as the pandemic drags on. Credit union trade groups want any new stimulus bill to include provisions to extend the Paycheck Protection Program and provide credit unions with additional capital to lend for small businesses. The trade groups are pushing for a lifting of the small business lending cap to allow them to make more loans during the pandemic. In addition, they want Congress to extend Central Liquidity Facility provisions that are set to expire at the end of the year.

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It's Beginning to Look a Lot Like 'Crunch Time' for Congress

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