An election year may mean less lawmaking, more regulating

A closely-divided Congress and a midterm election combine for a great deal of uncertainty in 2022 in terms of legislative and regulatory activities, but there are a number of issues that credit union leaders should pay close attention to throughout the year.

“Typically, the party that is in the White House loses seats in both houses during the midterms, but we are a long way away from the election and there are a lot of global factors that could change the outcome,” said Brad Thaler, vice president of legislative affairs for NAFCU. “It will be hard to pass legislation prior to 2022 midterms because both parties will be looking for ways to position their party and their agenda for success in the election.” This doesn’t mean that no new oversight will be put into place, he said. “When you can’t legislate, you can advance issues through the regulatory process.”

 

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