Congress returns, NAFCU at DoD

Members of Congress return from their seven-week recess today. NAFCU staff will monitor activity on the Hill and continue the association’s advocacy in other areas, including regarding the upcoming changes to the Military Lending Act.

The House Financial Services Committee tomorrow will hold a hearing on the governance and economic performance of Federal Reserve districts. Kansas Federal Reserve Bank President and CEO Esther George and Richmond Federal Reserve Bank President and CEO Jeffrey Lacker will testify.

The House is also set to debate two bills that have been approved by the Financial Services Committee: H.R. 5424, the “Investment Advisers Modernization Act,” which would update the Investment Advisers Act by removing duplicative rules, and H.R. 2357, the “Accelerating Access to Capital Act,” which would simplify the Securities and Exchange Commission’s registration regime for smaller companies.

Congress will recess again in early October in advance of the election, and return again on Nov. 14.

continue reading »