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Congressional Hearings This Week; CHOICE Act on Wednesday
Tuesday, April 25, 2017 6:40 AM

This week in Congress will see a number of congressional hearings, including the first discussion of the financial regulatory relief bill by Rep. Jeb Hensarling (R-Texas). A discussion draft of Hensarling’s CHOICE Act has been circulated, and Credit Union National Association will weigh in on the bill for the hearing’s record.

“There’s a lot in the proposed bill for credit unions to like, and there are several provisions we have concerns about,” said Eli Joseph, CUNA’s deputy chief advocacy officer. “We’ll be raising those in our letter, and we’ll also discuss provisions that we think should be part of any regulatory relief legislation.”

The House Financial Services Committee will conduct the CHOICE Act hearing Wednesday, starting at 10 a.m. (ET). The hearing will be livestreamed from the committee’s website.

CUNA President/CEO Jim Nussle called for action when the draft text of Hensarling’s bill was unveiled last week, urging credit union stakeholders to get involved by contacting policymakers and using CUNA resources.

Other hearings on CUNA’s watch this week:

  • Wednesday, 2 p.m. (ET): House Oversight and Government Reform subcommittee on government operations hearing titled “Reviewing the Unintended Consequences of the Foreign Account Tax Compliance Act”;
  • Thursday 10 a.m. (ET): Senate Banking Committee hearing titled “Countering Russia: Further Assessing Options for Sanctions”; and
  • Thursday, 2 p.m. (ET): House Financial Services subcommittee on terrorism and illicit finance hearing titled “Safeguarding the Financial System from Terrorist Financing.”