House Begins Consideration of Comprehensive Regulatory Reform Bill
Dec. 9 - The comprehensive regulatory reform bill comprised of the legislative work of the House Financial Services Committee is scheduled for consideration by the full House starting December 8.

House Financial Services Regulatory Reform Package Scheduled to Hit House Floor
Dec. 4 - A comprehensive regulatory reform bill comprised of nine different pieces of legislation is expected to be debated by the House floor during the week of Dec. 7.

Systemic Risk Legislation Passed by House Financial Services Committee
Dec. 2 - The House Financial Services Committee approved its ninth bill to address regulatory reform on December 2, H.R. 3996, legislation to address systemic risk and “too big to fail” institutions.

House Financial Services Committee to Vote on Systemic Risk Legislation December 2
Nov. 25 - The House Financial Services Committee will continue its work on regulatory reform efforts in the first week of December, starting with a vote on systemic risk legislation.

Dodd's Discussion Draft Combines Various Aspects of Regulatory Reform
Nov. 12 - In an expected move, Sen. Chris Dodd (D-Conn.), Chairman of the Senate Banking Committee, has released a comprehensive regulatory reform discussion draft including many of the aspects considered recently by the House Financial Services Committee.

President Signs CARD Act Fix Legislation
Nov. 9 - On November 6, the President signed H.R. 3606, the bill that remedies the CARD Act 21-day notification rule to only apply to credit cards.

Expedited CARD Act Passed by House, Awaits Senate Consideration
Nov. 9 - The bill, H.R. 3639, amends the CARD Act of 2009 to establish an earlier December 1, 2009 enactment date.

Overdraft Protection Attracts Congress’ Attention
October 28 - Several bills are pending in Congress addressing the various aspects of financial institution overdraft protection programs.

Expedited CARD Act Legislation Amended to Give Relief to Some CARD Issuers
October 26 - An amendment to the bill allows depository institutions with less than two million cards in circulation a later effective date of February 22, 2010, the original enactment date.

House Financial Services Committee Approves Consumer Financial Protection Agency
October 22 - The Consumer Financial Protection Agency Act of 2009 passed in the House Financial Services Committee by a vote of 39-29 on October 22 and now awaits consideration by the full House.

House Financial Services Committee Considering Regulatory Reform Legislation This Week
Oct. 13 - On October 14, the House Financial Services Committee will begin its deliberation of various regulatory reform proposals, including the Consumer Financial Protection Agency Act (CFPA) of 2009.

New CFPA Legislation Expected, CARD Act Earlier Effective Date Proposed
Sept. 25 - Congress continues to address a number of financial services issues, most recently legislation regarding consumer protection.

NASCUS Encourages House Committee to Preserve Dual Chartering and Partner with States in Regulatory Reform, Consumer Protection
Sept. 23 - As the House Financial Services Committee continued its series of hearings on regulatory reform, NASCUS provided the Committee with a submission for the official hearing record on “Federal Regulator Perspectives on Financial Regulatory Reform Proposals.”

Senator Dodd to Retain Senate Banking Committee Chairmanship
Sept. 10 - Sen. Chris Dodd (D-Conn.) announced September 9 that he would remain as the Chairman of the Senate Banking, Housing and Urban Affairs Committee and not move to the top spot on the Senate Health, Education, Labor and Pensions Committee.

Congress Returns to Busy Schedule of Legislative Issues
Sept. 4- The House of Representatives and Senate will both reconvene on September 8 and are expected to continue addressing financial services and regulatory reform issues.

Most Credit Unions Exempted from Executive Compensation Bill
July 29- The House Financial Services Committee approved H.R. 3269 on July 28, a bill that would put an end to the compensation practices that encourage executives to take excessive risk.

Frank Expresses Commitment to Passing Regulatory Reform Legislation by Fall
July 27 - Chairman of the House Financial Services Committee Barney Frank (D-Mass.) told an audience at the National Press Club in Washington, D.C. on July 27 that he was certain the House will pass regulatory reform legislation for the Senate to consider by this fall.

House Financial Services to Mark-Up Executive Compensation Bill Affecting Credit Unions
July 24- One of the sections of the bill mandates all "financial institutions" including credit unions disclose compensation structures that include any incentive based elements.

President Signs Bill Into Law Extending Credit Union Insurance Fund Recapitalization Period
May 21 - The President signed S. 896 into law May 20, a bill that includes provisions to extend the insurance fund recapitalization period for credit unions.

NASCUS Recommends Enhanced Regulatory Oversight and Capital Reform to Prevent Future Losses in Corporate System
May 20 - NASCUS testified before the House Subcommittee on Financial Institutions and Consumer Credit on the actions necessary to mitigate the impact of corporate credit union system losses and prevent a recurrence of the current situation.

Congressman Kanjorski Introduces Credit Union Share Insurance Stabilization Act
May 13 - Congressman Paul Kanjorski (D-Pa.) introduced H.R. 2351 on May 13 to offer the credit union system solutions to tackle the impact of the $5.9 billion loss from the corporate network.

NASCUS to Testify at House Subcommittee May 20 Hearing on Legislation to Address the Corporate Credit Union System
May 13 - NASCUS will testify before the House Subcommittee on Financial Institutions and Consumer Credit on May 20 to discuss recent events in the corporate credit union network and legislation to address the impact of corporate losses on natural person credit unions

Senate Approves Extension of Credit Union Insurance Increase, Provisions to Address NCUSIF Recapitalization
May 6 - The Senate passed S. 896 on May 6, a bill that includes several provisions affecting credit unions.

NASCUS Encourages House Financial Services Committee to Integrate Enhanced State Authority in Mortgage Reform Bill, H.R. 1728
April 29- NASCUS wrote to House Financial Services Committee leaders April 27 stating that H.R. 1728, the Mortgage Reform and Anti-Predatory Lending Act of 2009 can be enhanced by preserving and strengthening the states’ role in consumer protection.

State Regulator Encourages Active State Participation in Mortgage Reform at House Hearing
April 24 - A Massachusetts state regulator joined the panel of federal regulators, consumer groups, industry experts and association officials at a hearing of the House Financial Services Committee to discuss H.R. 1728, the Mortgage Reform and Anti-Predatory Lending Act of 2009.

House Holds Hearing about the Need for Comprehensive Regulatory Reform
March 26 - Treasury Secretary Geithner testified on March 26 in the House of Representatives Financial Services Committee about the need for comprehensive regulatory reform.

NASCUS to Senate Committee: Maintain and Strengthen State Supervision, Recognize Value of Dual Chartering in Regulatory Reform
March 19 - NASCUS testified before the Senate Banking, Housing and Urban Affairs Committee today emphasizing the proper role of state authority and dual chartering in Congressional regulatory reform efforts.

House Financial Services Committee Chairman Announces Full Financial Reform Agenda for March
March 5 - Barney Frank (D-Mass.), chairman of the House Financial Services Committee, plans to keep his committee busy this month tackling financial and mortgage reform objectives and credit card legislation.

NASCUS Supports Parity for Credit Unions in H.R. 786
February 9 - NASCUS wrote to Congressional leaders encouraging support for provisions in H.R. 786 that address deposit insurance limits.

House Committee Approves Bill to Allow Five Years to Replenish Share Insurance Fund and Make Share Insurance Increase Permanent
February 4 - An amendment added to H.R. 786 could offer extended time to replenish the credit union share insurance fund at a time when the National Credit Union Administration (NCUA) is considering an insurance premium.

TARP and Credit Unions: What’s New
February 2 - As the 111th Congress continues to debate stimulus bills and other reforms to shore up the economy, the issue of credit unions and access to the Troubled Asset Relief Program (TARP) remains unresolved.

Bill Passed by House Would Allow Credit Unions Access to TARP Funds
January 22 - The bill includes an amendment that could allow credit unions to access TARP funds by revising the definition of net worth to include a limited form of capital from the government.

Chairman Frank Introduces Bill to Reform TARP; NCUA Urges Congress to Ensure Credit Unions Are Eligible for Funds
January 14 - The House Financial Services Committee held a hearing Tuesday to discuss the implementation of the Emergency Economic Stabilization Act (EESA) of 2008 and its related programs, including the Troubled Asset Relief Program (TARP).