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Topics Congress Will Hear this Week Include Patent Reform
Wednesday, April 15, 2015 6:35 AM

The U.S. House Judiciary Committee will hold a hearing to discuss the Innovation Act (H.R. 9), a bill to combat abusive patent lawsuits. The legislation was introduced in February by Rep. Bob Goodlatte (R-VA). It would remove some financial incentives sought by firms that assert low-quality patents in the hope of quick settlements.

CUNA sent letters of support for the intent of the bill during the 113th Congress, but urged the bill to go further in protecting financial firms from litigation on commonly used technologies. The Innovation Act was first introduced in October 2013 and was approved by the U.S. House in December 2013, but was never considered in the Senate.

The hearing will consist of testimony from several intellectual property attorneys from the technology field. CUNA has sent a statement for the record for the hearing.

Of key interest to credit unions this week in Congress, the House passed several CUNA-supported regulatory relief bills Monday, and at least one more is scheduled for a vote this week: The Mortgage Choice Act of 2015 (H.R. 685). That bill would modify the Truth-in-Lending Act's definition of "points and fees."

Other hearings on CUNA's radar this week include:

  • Wednesday, joint hearing with House Financial Services subcommittee on monetary policy and trade and House Committee on Oversight and Government Reform subcommittee on health care, benefits and administrative rules, 9 a.m. (CT), "Oversight of Efforts to Reform the Export-Import Bank of the United States;"
  • Wednesday, House Financial Services subcommittee on financial institutions and consumer credit, noon (CT), "Examining Regulatory Burdens on Non-Depository Financial Institutions;" and
  • Thursday, House Financial Services subcommittee on housing and insurance, 8:15 a.m. (CT), "The Future of Housing in America, Increasing Private Sector Participation in Affordable Housing."