Credit unions have a busy week ahead in Washington.
The Senate Banking Committee will hold a hearing Tuesday on the challenges surrounding banking the legal marijuana industry, including testimony from Rachel Pross, chief risk officer at Maps Credit Union in Salem, Ore. Pross testified on the same topic
Many financial institutions are wary of entering the marijuana banking sector due to the regulatory challenges associated with it. The marijuana industry is expected to be worth up to $28 billion according to NAFCU's
Credit Union Journal will have coverage of Pross’s testimony.
Lawmakers this week will also continue consideration of rules surrounding robocalls, with the full House expected to vote on HR 3375, the Stopping Bad Robocalls Act. Credit union groups have pushed for the Federal Communications Commission to amend rules that limit
The House Financial Services Committee will also hold hearings this week examining the proposed BB&T-SunTrust Bank merger to create Truist Bank. The deal is the largest bank merger in more than a decade and is
The committee will also hold a hearing Thursday regarding alternative data and its usage in relation to underwriting and credit scoring.