Regulatory
Federal Update Addressing Variety of Topics, Including Ukraine Aid
The U.S. House of Representatives is expected to vote today on a $1.5 trillion spending bill to keep the federal government funded and address a variety of other issues including $13.6 billion in aid for Ukraine and Eastern European countries.
Priority Legislation Clears Senate Committee Unanimously
House Bill 1165 took another major step forward Tuesday morning after receiving a unanimous 7-0 vote by the Senate Financial Institutions Committee.
Northwest Credit Unions are Encouraged to take the Diversity Self-Assessment
Deadline to fill out self-assessment is January 31, 2022.
NCUA Issues Guidance on ECIP 30-Year Maturity Date Utilization
In a statement from the letter NCUA outlines, “Low-income credit unions may receive 30-year subordinated debt investments from the ECIP.
NCUA Announces Distribution of $865 Million to Members of Failed Corporate Credit Unions
The $865.5 million will be distributed to the capital account holders of the former Members United, Southwest Corporate, and U.S. Central Corporate credit Unions.
U.S. Supreme Court Issues Important Decision Invalidating FHFA
In so doing, the Court reiterated a precedent set when they determined that the structure of the CFPB was unconstitutional.
NCUA June Board Meeting Preview with Unified Agenda
The NCUA released their June 24, 2021 board meeting agenda.
House Passed Multiple Bipartisan Financial Services Bills This Week
A total of 6 bills passed the chamber with bipartisan support, and they now must navigate the Senate.
House to Likely to Vote Next Week on SAFE Banking Act
It is likely that the House of Representative will bring the SAFE Banking Act (H.R. 1996) to floor for a vote next Wednesday, April 21.
The Biden Administration Preps Executive Order on Climate & Finance
This has been a focus of key Northwest congressional delegation members like Chairman Wyden (D – OR) and Senator Merkley (D – OR) for many years.
Key Hearings on Credit Union Priorities in Congress This Week
This week there we a number of key hearings in both the Senate Banking Committee and the House Financial Services Committee.
Northwest Leadership on the Joint Committee on Taxation
The 117th Committee on Taxation has been set with 3 key Northwest delegation members.
Prospects for the SAFE Banking Act
The SAFE Banking Act has been formally introduced in the House (H.R. 1996) and Senate (S. 910), both are bipartisan and well positioned.
Governmental Affairs Committee Co-Chairs Advocate for Capital Relief
The Co-Chairs from our three state Governmental Affairs Committees penned a letter to the CUNA Advocacy Committee this week.
SCOTUS Decision on TCPA Case is a Legal Advocacy Win for Credit Unions
The NWCUA and other credit union system partners have long advocated that the definition be narrowed, and on behalf of the system, CUNA filed an amicus brief in the case.
Senate Passes PPP Extension to May 31st
A big win for the credit unions offering the Paycheck Protection Program.
House Considers Extension to the PPP and Senate Confirms New Leader for SBA
Today the House took action on H.R. 1799 and it will likely pass the chamber soon with bipartisan support.