WASHINGTON—Both NAFCU and CUNA will be following Federal Reserve Chair Janet Yellen’s testimony on Capitol Hill this week.
Yellen will testify on monetary policy and the state of the economy, testifying Wednesday before the House Financial Services Committee and Thursday before the Senate Banking Committee.
Both trade associations said they will also be watching the House Financial Services Subcommittee on Financial Institutions and Consumer Credit hearing Thursday on concerns about CFPB limiting access to credit and overriding “state and tribal sovereignty.”
“We will submit a statement for the record,” said CUNA Chief Advocacy Officer Ryan Donovan. “It should be an interesting hearing at a time when we are carefully watching and engaging with the CFPB as the put together a proposal on payday lending.”
NAFCU said it will also follow the House Small Business Committee hearing Wednesday looking at the Small Business Administration’s Office of Capital Access and Office of Credit Risk Management. The hearing will focus on whether those offices need improvements to better assist small companies obtain capital.
Other news:
- President Barack Obama’s final budget, for fiscal year 2017, is set to be released today.
- CUNA noted that Eli Joseph has been named the trade association’s deputy chief advocacy officer. CUNA said Joseph will direct the activities of the trade association’s congressional relations staff. “We’re thrilled to have Eli on board and have no doubt his extensive experience and knowledge will serve the association and our 100 million members well on Capitol Hill and beyond,” said Donovan. Prior to joining CUNA, Joseph worked for Merck & Co., Inc. as executive director of federal policy and government relations.