WASHINGTON—In what will likely be another hectic week in Washington, credit union trade organizations are focused on the House passage of the Credit Union Board Modernization Act, and ensuring CU voices are heard by the Small Business Administration (SBA).
A credit union witness is testifying Wednesday on behalf of America’s Credit Unions during a House Small Business Committee hearing focusing on how community financial institutions support Main Street.
Mike Sims, chief commercial banking officer at Georgia’s Own Credit Union, will address how credit unions serve small businesses.
“We are excited to testify before the House Small Business Committee,” said ACU Chief Advocacy Officer Carrie Hunt. “Mike Sims will be testifying about the credit union difference and how credit unions excel in SBA lending. It's great to have this opportunity. We want to make sure that credit unions have all the tools they need to do as much SBA lending as possible. During the first Trump administration credit unions had a great and strong working relationship with SBA Administrator Linda McMahon. We look forward to building another strong relationship with the new administrator.”
Defense Credit Union Council Chief Advocacy Officer Jason Stverak noted the Credit Union Board Modernization Act (H.R. 975) is on the House calendar this week.
“We're very excited that this legislation is moving forward quickly,” said Stverak Monday morning. “We encourage every member of the House to support this common-sense legislation, and when it is passed by the House this week we encourage the Senate not to set it aside. We encourage the Senate to take up this bipartisan piece of legislation that has overwhelming support in the House and get it quickly passed and on to President Trump's desk for his signature.”
The bill passed late Monday (see related story).
Other events in Washington this week:
Tuesday
- The House Financial Services Committee will hold a hearing on digital assets
- Federal Reserve Chairman Jerome Powell testifies before the Senate Banking Committee
Wednesday
- Powell appears before the House Financial Services Committee
Friday
- Comments are due to the Department of Homeland Security on updates to the National Cyber Incident Response Plan