Future NCUA Rulemaking Remains Unclear

The National Credit Union Administration held a webinar to discuss new board Chairman Todd Harper’s priorities and the main message from Harper is that he cares about continuing to advance economic equity and justice, as well as consumer protection efforts. It is not clear what he plans to do about some of the proposed rules that were approved before he became chairman.

CU Trades, Consumer Groups Endorse Senate Homeowner Assistance Bill

Sen. Jack Reed (D-R.I.), Senate Banking Chairman Sherrod Brown (D-Ohio) and Senate Appropriations Chairman Patrick Leahy (D-Vt.) have introduced legislation to create a $75 billion Homeowner Assistance Fund, designed to help homeowners hit by the coronavirus crisis. The fund is targeted to prevent avoidable foreclosures, evictions and utility shutoffs. Credit union trade groups are supportive.

Luetkemeyer to Remain as Ranking GOP Member on House Subcommittee

Earlier this month it was announced that Rep. Ed Perlmutter (D-Colo.) will be chairman of the House Consumer Protection and Financial Institutions Subcommittee and now the Republicans have designated Rep. Blaine Lutkemeyer (R-Mo.) as the ranking Republican on that committee. Lutkemeyer’s position is of interest to credit unions as his family owns a community bank. On the Senate side, Sen. Sherrod Brown (D-Ohio) will be chairman of the Banking Committee and the ranking Republican will be Sen. Pat Toomey (R-Pa.). Priorities may be changing on the Senate side.