Legislative Update with Jay Kruse
by Jay Kruse
Chief Advocacy Officer

Good Morning!

Both the House and Senate are back in session this week following the August in-district work period. Today, the Senate Banking Committee will hold a hearing regarding the next steps for housing reform. The witnesses will include Treasury Secretary, Steven T. Mnuchin, HUD Secretary Benjamin S. Carson, and FHFA Director Mark A. Calabria. The group is expected to discuss the Administration’s recently released white paper on mortgage Government Sponsored Enterprises (GSE) reform. You can follow along with the live webcast of the hearing that has already kick off this morning.

September 30 not only marks the end of fiscal year 2019, government funding also expires at the end of the month. Expect Congress to shift its focus to work on a Continuing Resolution (CR) to fund the government. A CR is legislation in the form of a joint resolution enacted by Congress, when the new fiscal year is about to begin or has begun, to provide budget authority for Federal agencies and programs to continue in operation until the regular appropriations acts are enacted. This CR may also serve as a vehicle to extend programs such as the National Flood Insurance Program which too expires at month end.

CUAD Annual Fall Hike-the-Hill Takes Place Next Week.

CUAD is hosting our annual fall Legislative/Regulatory Hike-the-Hill in Washington D.C. next week! The trip will include meetings with the NCUA and CFPB leadership as well as with our elected congressional representatives to voice your concerns. While we do have a long list of legislative and regulatory priorities we plan to discuss, we want to make sure we cover everything that is important to your credit union and your members.

It is not too late to provide us with any regulatory or legislative issues that are important to your credit union, including specific stories or examples of how these issues are affecting your membership. This helps ensure our meetings in Washington are as efficient and effective as possible. If you have a story to share, please reach out to either Amy Kleinschmit or me, at jkruse@cuad.coop as soon as possible.

If you have questions, concerns, or feedback regarding these or any other advocacy issues, please do not hesitate to contact me. Have a great week!



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