House committee looks at CUNA-backed regulatory relief bills today

Today’s subcommittee hearing on regulatory relief features two credit union-specific bills and an additional regulatory relief bill for credit unions, all three of which have CUNA’s strong support.

The U.S. House Financial Services subcommittee on financial institutions and consumer credit will hear from three witnesses and examine seven bills in total.

The hearing is likely to be the final regulatory relief hearing in Congress this year; however, the House Financial Services Committee will likely mark up today’s bills in the middle of next week.

The two credit union-specific bills are:

  • The Preserving Capital Access and Mortgage Liquidity Act (H.R. 2473), which would amend the Federal Home Loan Bank Act to ensure eligibility requirements for similarly sized credit unions and banks are the same. H.R. 2473 would include credit unions in the act’s definition of “community financial institution;” and
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