Week ahead: Limited business amid shutdown

It’s official: the partial government shutdown is now the longest federal work stoppage in U.S. history – and that’s a problem for credit unions.

Hundreds of thousands of federal employees have now missed paychecks, leading CUs from across the country to roll out a variety of assistance programs while also dealing with issues of credit quality, liquidity and staffing. In an attempt to assist furloughed workers, the House passed a financial services spending bill that will attempt to re-open shuttered portions of the government, but the bill isn’t expected to have much movement in the Senate and would also face a presidential veto.

Other business in Washington will go on, however, including the National Credit Union Administration’s first open board meeting of 2019 on Thursday. Among the items for consideration this week will be NCUA’s 2019 performance plan and the Illinois Member Business Loan Rule. Additionally, comments on NCUA’s proposed changes to requirements for FCU bylaws are due this week. Both CUNA and NAFCU are expected to file comment letters.

Two main legislative hearings are set for this week. Chiefly, the Senate Judiciary Committee on Monday held a nomination hearing for William Barr’s nomination to succeed Jeff Sessions as attorney general. If confirmed, Barr could potentially influence the credit union docket concerning the string of American Disabilities Act lawsuits. With the power to specify Department of Justice regulations in concern to website accessibility, the AG holds the power to remedy confusion around Title III of the ADA.

Back in July of 2018, 18 state attorney generals and one AG from Washington D.C. urged Sessions to “draft and promulgate regulations pertaining to web accessibility standards under Title III of the Americans with Disabilities Act.” At this time, it is unclear if Barr would compound the work of Sessions or send headwinds of his own.

Both CUNA and NAFCU have pressed DOJ staff for clarity on this issue.

While Barr's nomination is moving forward, President Trump has yet to re-nominate Rodney Hood for Rick Metsger's expired seat on the NCUA board after Hood's nomination expired at the end of last year. A third seat, last held by former chairman Debbie Matz, has been vacant since April 2016.

The Senate Special Committee on Aging is also expected to hold a hearing this week concerning elder fraud and abuse-prevention tactics.