This week: Fintech, gov’t funding, NCUA meeting on NAFCU’s radar

The Senate is in session this week, but members of the House are back in their home districts giving credit unions the opportunity to meet to discuss issues facing the industry. NAFCU will be monitoring a Senate Banking hearing on fintech, as well as work on appropriations bills. The NCUA Board also has a meeting set for Thursday.

Government funding is currently set to expire Sept. 30, but Congress has been working to pass minibus funding packages to avoid a shutdown. Last week, both chambers passed a package of spending bills that the president is expected to sign, and came to an agreement for long-term funding for some departments that also includes funding through Dec. 7 for remaining agencies. NAFCU will continue to monitor funding efforts and keep credit unions updated as the deadline approaches.

Tomorrow, the Senate Banking Committee holds a hearing on fintech, slated to begin at 10 a.m. Eastern. NAFCU has actively engaged with Congress, the Treasury Department and regulators to offer credit unions’ perspective on the emerging technologies – the association agrees that fintech produces real benefits to consumers, but believes that any company engaged in core banking functions should be regulated the same way as credit unions.

 

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