GSE Reform Bill Delay Is Opportunity To Get More Votes: CUNA

WASHINGTON — Congress is still out for recess, but the credit union lobby is gearing up for two important hearings in the Senate when members return next week.

The Senate Banking Committee is still tentatively slated to mark up the GSE reform bill on April 28 or 29, but word on the Hill is that the hearing could be put off for another week, said CUNA SVP-Legislative Affairs Ryan Donovan, during the trade group's weekly conference call. "But delay is a good thing," Donovan said. "It gives them a chance to get more votes together."

Credit unions are keeping a close eye on this legislation, also known as the Johnson-Crapo plan as many CUs sell their mortgages on the secondary market. Banking Committeee Chairman Tim Johnson, D-S.D., and Sen. Mike Crapo, the lead Republican, were reportedly trying to attract more votes last week.

Also on the docket for early next week is the Senate Judiciary Committee's mark-up of the patent reform bill, another issue credit unions have been keeping a close eye on, Donovan noted.

On the regulatory side, CUNA met with NCUA's director of the Office of Examination and Insurance late last week to discuss the agency's risk-based capital proposal.

CUNA SVP-Regulatory Advocacy and General Counsel Mary Dunn said the meeting gave credit union representatives another opportunity to voice their concerns about NCUA's proposal.