This week: NAFCU tracking EMV, reg burden hearings; CISA in Senate

NAFCU will monitor congressional hearings this week focused on EMV, housing reform and the regulatory burden on job creators while also watching for any next steps in the Senate on the “Cybersecurity Information Sharing Act.”

The House Small Business Committee on Wednesday will hear from small-business owners on the challenges and implications of the EMV liability shift that took place Oct. 1. NAFCU witness Jan Roche gave the credit union perspective earlier this month. This week’s hearing, “The EMV Deadline and What it Means for Small Businesses: Part II,” will focus on why many small businesses have yet to install the updated chip card readers and the costs associated with the new technology.

Also on Wednesday, the House Financial Services Subcommittee on Financial Institutions and Consumer Credit will continue its focus on regulatory relief as it examines various legislative proposals to reduce regulatory burdens on “Main Street job creators.”

Among the bills reviewed will be the “National Credit Union Administration Budget Transparency Act” (H.R. 2287), which would require NCUA to publish a draft of its budget in the Federal Register and hold a public hearing to garner comments from the public; and the “Preserving Capital Access and Mortgage Liquidity Act” (H.R. 2473), which would ensure credit unions parity with banks under Federal Home Loan Bank membership criteria. NAFCU supports both measures.

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