WASHINGTON—With the House and Senate both in session this week, several more hearings on the Hill will be of interest to credit unions.
CUNA Chief Advocacy Officer Ryan Donovan said the trade association will closely follow the Senate Banking Committee’s hearing on review of the National Flood Insurance Program today, as well as Wednesday’s hearing by the Banking Committee on approving flood insurance program management and accountability in the wake of Superstorm Sandy.
“Thursday we will be watching the House Financial Services Subcommittee on Oversight and Investigation’s hearing on examining the continuing allegations of discrimination and retaliation from the CFPB.”
In addition to monitoring hearings scheduled this week on cyber-threats to the financial system, the recent hack into Office of Personnel Management records, and the hearings on the National Flood Insurance Program, NAFCU will be watching for the CFPB’s official announcement on the TRID implementation deadline extension.
“This week, NAFCU is closely following the CFPB in anticipation of the proposal to extend the TRID implementation deadline,” said Alicia Nealon, NAFCU director of regulatory affairs. “The expected extension to October 1 would give credit unions much-needed time to prepare to comply with this complex rule. NAFCU looks forward to conducting a thorough analysis of the proposal to assess its impact on our members.”