Legislative News Archive

Spotlight on Capitol Hill
September 10, 2013 Congress returned from its summer recess this week, and both houses are expected to resume work on several financial regulatory reform initiatives that could affect credit unions.

NASCUS Encourages Regulatory Relief for FISCUs
April 10, 2013 NASCUS took the the opportunity to submit this written testimony for the record of the April 10, 2013 House Financial Services Subcommittee on Financial Institutions and Consumer Credit hearing, Examining Credit Union Regulatory Burdens.

NASCUS Applauds Introduction of Supplemental Capital Bill
Feb, 14, 2013- Representatives Peter King (R-NY) and Brad Sherman (D-CA) introduced the Capital Access for Small Businesses and Jobs Act, legislation that will allow credit unions to access supplemental capital, a reform long supported by NASCUS. This bill is similar to H.R. 3993 which was introduced in the 112th Congress.

State CU System Leaders Testify on Capitol Hill
July 24, 2012 – NASCUS members were in Washington, D.C. this week testifying before Congress on consumer protection and preemption issues.

Credit Union Execs Discuss Regulatory Burden at House Subcommittee Hearing
May 16, 2012 – The panel of credit union and bank executives communicated to the Subcommittee that compliance costs both in terms of staff and operations has grown significantly over the last several years, especially from regulations promulgated in response to the economic crisis such as the Dodd-Frank Act.

Amendment to Postal Bill Could Limit Government Agency Participation in Conferences
May 8, 2012 – NASCUS co-signed with other associations and professional societies in an American Society of Association Executives (ASAE) letter encouraging Congress to amend this legislation. As presented, the legislation could restrict dialogue between the private sector and the federal government.

Senate Introduces Exam Fairness Legislation Similar to House Bill
March 13, 2012 – Sen. Jerry Moran introduced S. 2160, the Financial Institutions Examination Fairness and Reform Act, a nearly identical legislation to H.R. 3461, the House version of exam fairness.

New Bill Would Allow Supplemental Capital to Count Toward Credit Union Net Worth
Feb. 10, 2012– The bill, H.R. 3993, would make a change to the definition of net worth in the Federal Credit Union Act to allow non-share capital accounts to count toward a natural person’s credit union’s net worth.

NASCUS Applauds Introduction of Supplemental Capital Bill
Feb. 9, 2012 – Rep. Peter King (R-NY) introduced the Capital Access for Small Businesses and Jobs Act, H.R. 3993, legislation that will allow credit unions to access supplemental capital, a reform long supported by NASCUS.

President Uses Recess Appointment for CFPB’s Cordray
Jan. 4, 2012 – On Jan. 4, President Barack Obama used a recess appointment to install Richard Cordray as the Director of the Bureau of Consumer Financial Protection (CFPB) thereby skirting a stalled Senate confirmation process.

CFPB Director Nomination Blocked in the Senate
Dec. 8, 2011 – Richard Cordray, President Obama’s nomination to be director of the Bureau of Consumer Financial Protection, was blocked by Senate Republicans for confirmation to the post.

House Approves Bill Amending Rulemaking Process
Dec. 6, 2011 – The U.S. House of Representatives approved the “Regulatory Accountability Act of 2011,” H.R. 3010, on December 2 amending the Administrative Procedures Act regarding rulemaking and adding provisions for rulemaking that imposes significant cost on the economy.

“Exam Fairness” Legislation Introduced in the House
Nov. 29, 2011- H.R. 3461, the Financial Institutions Examination Fairness and Reform Act, was introduced by Rep. Shelley Moore Capito (R-WV) and Rep. Carolyn Maloney (D-NY) in an effort to improve elements of the federal examination process.

House Subcommittee Holds Hearing on Member Business Lending Legislation
Oct. 17, 2011 – The House Subcommittee on Financial Institutions and Consumer Credit held a hearing on Oct. 12 to discuss enhancements to member business lending capabilities for credit unions.