This week: The industry continues momentum in fight to protect the credit union tax status

The Senate and the House continue to work this week, ahead of a scheduled two-week recess beginning next week. The main business before both bodies is to finish a compromise budget resolution, which would open the door for the reconciliation package to begin to be crafted when they return post-recess. The House is also expected to tackle a joint resolution of disapproval on the CFPB’s overdraft rule, which the Senate cleared last month on a 52-48 vote. The House was originally scheduled to vote on the measure last week, but that vote was delayed after leadership cancelled votes for the week after a rule to proceed to business failed over a dispute about proxy voting.  

The momentum built in the fight to protect the credit union tax status is not slowing down, as America’s Credit Unions, leagues, credit unions, and members continue to send messages and postcards to lawmakers, publish op-eds and letters to the editor, and more.  

Resources to engage in the Don’t Tax My Credit Union campaign are available, and America’s Credit Unions will continue to advocate with members of Congress with bankers starting spring fly-ins this week.

Also happening this week:

• Today, the House Rules Committee will meet to approve the rule for consideration of the aforementioned joint resolution of disapproval for the CFPB’s overdraft rule, which has passed the Senate and House Financial Services Committee;
• Also today, comments are due to the CFPB in response to the bureau’s proposed rule to expand the definition of “identity theft” under Regulation V;
• Thursday, the NCUA Board is expected to publish its agenda for this month’s meeting; and
• Friday, comments are due to the bureau on collecting of consumer payment data.