Rep. Jay Dickey is pushing House Banking Committee Chairman Jim Leach to hold hearings on credit union membership rules.
In a Dec. 9 letter, the Arkansas Republican said several credit union customers have asked him to back efforts to overturn a July 30 federal appeals court ruling that all members of occupation-based credit unions must share a common bond.
While Rep. Dickey is asking for hearings, he isn't convinced legislation is needed.
"I really do believe in the role of credit unions, but I've been made aware of a few instances where the common-bond law has been abused," the Appropriations Committee member said in an interview Thursday. "We're getting bits and pieces about the issue, so hearings would be a golden opportunity to focus this issue."
Several lawmakers have asked Rep. Leach to hold hearings on the court ruling, according to a House Banking spokesman. But the Iowa Republican may hold off until the Supreme Court decides whether to hear an appeal by credit union regulators, the spokesman said.
"Right now, this is a matter before the courts, and not Congress," the spokesman said. "He is certainly considering postponing anything here until we get a definitive answer from the courts."