DC Weekly Update Posted by AVCU on 5:33 PM

From Ryan Donovan, VP Leg. Affairs, CUNA

This is expected to be the final week that the House of Representatives will be in session before the August recess; however that may change depending on what the leadership wants to do with the health care reform legislation. The Senate schedule released at the beginning of the year had them in session through the first week in August, so they will be back next week regardless.

The House reconvenes today to consider several bills under the suspension of the rules procedure. The Senate also reconvenes today and will resume consideration of H.R. 3183, the Energy and Water Development Appropriations Act.

On Tuesday, the House will consider additional bills under suspension of the rules before turning its consideration to H.R. 3326, the Department of Defense Appropriations Act, and then H.R. 3269, the Corporate and Financial Institution Compensation Fairness Act.

Among the bills the House is expected to consider this week under suspension of the rules is H.R. 3330, a bill to which would provide for "more effective" reviews of losses in the Deposit Insurance Fund and the National Credit Union Share Insurance Fund by the Inspectors General of the several banking agencies and the NCUA Board. This legislation was introduced last Friday by Representative Steve Dreihaus (D-OH); we are reviewing the legislation. The bill was originally noticed to be considered today; but it appears, based on this morning's Whip Notice, that it is more likely to be considered tomorrow.

With respect to committee activity relevant to credit unions, the action will take place on Tuesday at 9:30am. The Senate Banking Committee will meet in executive session to consider the nomination of Debbie Matz to be a member of the National Credit Union Administration Board. At the same time, the House Financial Services Committee will mark-up H.R. 3269, the Corporate and Financial Institution Compensation Fairness Act. Last week, CUNA sent a letter to the Committee expressing our concerns regarding this legislation.

Finally, CUNA is participating in a staff briefing of the Blue Dog Coalition in the House of Representatives regarding interchange fees. Cynthia Prestandrea, President and CEO of Prince George's County Federal Credit Union in Upper Marlboro, MD, is the only financial institution participant, appearing on behalf of CUNA and the Electronics Payment Coalition.