WASHINGTON—When Congress returns in September, the biggest issue on the table will be government funding, reminds America’s Credit Unions.
The House last week left for its August recess, and the Senate followed over the weekend after a series of votes late Saturday.
“We’ve already seen the Senate advance the first package of spending bills, which means the appropriations process is officially in motion,” said Greg Mesack, SVP of government affairs at ACU. “Everyone knows that the Sept. 30 deadline is looming, and while it’s possible Congress won’t have any of the 12 appropriations bills completed by then, a continuing resolution is likely needed to avoid a shutdown.”
While the Senate worked through appropriations, Mesack said ACU saw encouraging progress on other legislative fronts. Notably, the Senate Banking Committee unanimously advanced a bipartisan housing bill—"a rare move that signals strong momentum,” he said.
“This bill could be brought to the floor later this year or in early 2025. It contains several provisions that are beneficial to credit unions, including support for small-dollar mortgage lending. America's Credit Unions has already sent a letter to Senate Banking outlining the specific provisions we support,” Mesack said.
Even more significantly, the Senate passed the Homebuyers Privacy Protection Act (H.R. 28080), said Mesack, calling it a major win.
“This is something credit unions have been advocating for over several years. It’s a strong consumer protection measure that helps prevent homebuyers from being bombarded with unwanted and unsolicited mortgage offers after applying for a loan,” he explained. “We’re encouraged by this momentum and look forward to continuing to advocate for legislation that protects and empowers credit union members.”