Perhaps it is apropos that this Monday was Columbus Day, because Congress and the Administration appear to be leading us into some uncharted waters. 

The House and the Senate remain in session this week despite the Federal holiday to attempt to resolve the debt ceiling crisis and, perhaps, reopen the Federal Government.  The House returned on Monday and considered the American Indian and Alaska Native, Health, Education, and Safety Act.  The Senate is considering judicial nominations as well as a motion to proceed to consider S. 1569, which would suspend the limit on federal borrowing through Dec. 31, 2014.  The schedule for the remainder of the week is still being determined.  Because this was a scheduled recess week for both chambers and because Committee staffs have been operating at reduced staff levels for the past two weeks, there are no hearings scheduled.

Shutdown Showcases CUs' Best Efforts Helping Members
The federal government's partial shutdown is showcasing credit unions' best efforts to help members who will bear the financial brunt of  the shutdown, and the media are fast picking up on that fact. News reporters have told the Credit Union National Association they are impressed with how much faster credit unions have stepped up to the plate to assist members through the shutdown than banks have.  Read More

CUs In the Media On Shutdown, Taxes, Credit Scores
The Credit Union National Association as well as credit unions told about the benefits of credit unions in several media articles this week on a variety of topics including credit unions' assistance to consumers affected by the federal government shutdown, the Don't Tax My Credit Union campaign and credit score tips.  Read More


Shutdown Voting Math Fails To Add Up
A lot of words have been spilled since the government shutdown began nearly a week ago, but some of the most noteworthy came from the lips of House Speaker John Boehner Sunday on ABC's This Week:  Read More

~All Things Considered

This week's government shutdown could be just a warmup for an even bigger budget battle in a couple of weeks.

Congress has to raise the limit on the amount of money the federal government is allowed to borrow by Oct. 17. If the debt ceiling is not raised on time, President Obama warns that Washington won't be able to keep paying its bills.

"It'd be far more dangerous than a government shutdown, as bad as a shutdown is," Obama said Tuesday. "It would be an economic shutdown."

READ MORE and listen to the story

Congress missed a midnight deadline to avert a shutdown of the federal government, as the Republican-led House and the Democratic-led Senate battled through the night on legislation to keep the lights on.

National parks and museums were shuttered Tuesday morning, and hundreds of thousands of federal employees remained home on furlough with no financing in place at the start of a new fiscal year.  Read More

A shutdown of the federal government Tuesday will not halt the NCUA’s operations, the regulator said Monday in a release.

Federal agencies were funded through Monday, and because Congress could not agree upon a funding deal in time, non-essential staff will not report to work Tuesday.

As an independent, self-funded agency, the NCUA said it does not rely on congressional appropriations, so the shutdown will not apply to the Alexandria, Va.-based regulator.

NCUA Board Chairman Debbie Matz on Monday encouraged credit unions to maintain a state of readiness to help their members who may be affected by a potential government shutdown. Read More

CUNA Legislative Update
September 23, 2013
Although the House of Representatives was scheduled to have a recess this week, both chambers will be in session to consider a funding resolution for the first part of the next fiscal year and continue negotiations over the debt ceiling.

Floor Schedule
The Senate reconvened at 2:00 pm on Monday to consider the nomination of Todd M. Hughes to be United States Circuit Judge for the Federal Circuit.  For the remainder of the week, the Senate is considering the House passed continuing resolution.  The Senate is likely to remove the language in the House-passed CR and insert new bill text and send it back to the House, probably at the end of the week.  A continuing resolution must be enacted before October 1 to avoid a shutdown of the federal government. 

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CUNA Legislative Update 
September 16, 2013

Both the House and the Senate are in session this week as the end of the fiscal year and debt ceiling loom large. In fact, the House leadership warned lawmakers last week that next week’s scheduled recess may be in jeopardy if progress is not made on the appropriations front. We expect an announcement of next week’s House schedule later this week; conventional wisdom is that the House will be in session. But before we can get to next week, we have to get through this week...


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GOP Chairman Vows to Lift 'yoke of Dodd-Frank' From Credit Unions
House Financial Services Committee Chairman Jeb Hensarling pledged Tuesday to use his gavel to push back against a flurry of Dodd-Frank Act regulations he warned would stifle the nation’s financial sector. 

“If I had the votes today, I would repeal Dodd-Frank,” the Texas Republican said.  "I want to take the yoke of Dodd-Frank from your back.” Read More

CUNA Legislative Update 
September 9, 2013

Good morning!  August recess is over and Congress is back in Washington for the September work period.  While Congress will only be in session for a handful of days in September, this work period will be highlighted by consideration of a use of force resolutions regarding Syria and continuing appropriations resolutions to fund the government into the new fiscal year which begins on October 1.  Also during this work period, we expect progress to be made behind the scenes to help set up action later this year on housing finance reform and tax reform.

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It's September: Is Your CU Prepared?
As News Now has been reminding over the last month, September is National Preparedness Month. The Federal Emergency Management Agency (FEMA) is inviting all interested parties to join a collaborative "National Preparedness Community" to fulfill a "shared responsibility to prepare."  Read More

Conservative National PAC Uses Ads to Slam Flake Over Tweet, Stance on Health Law
A dismissive quip on Twitter by U.S. Sen. Jeff Flake has escalated tensions between the GOP freshman from Arizona and an influential national conservative political action committee.

The Senate Conservatives Fund, a “tea party”-style group that backed Flake in Arizona’s 2012 Republican Senate primary and helped raise money for his campaign, last week began airing a radio ad accusing Flake of turning his back on the fight to defund President Barack Obama’s signature health-care-reform law.  Read More

CU Lobbying Efforts Yield a Dry Hole on Capitol Hill
Trade Lobbyists Say It's Not Just About Credit Union-Specific Bills
Sen. Jerry Moran (R-Kan.), Sen. Jon Tester (D-Mont.) and Sen. Mark Kirk (R-Ill.) introduced a regulatory relief bill for community banks July 24 that includes four provisions. Two of those exclusively benefit community banks, and two would benefit both community banks and credit unions.

However, the CLEAR Act contained no credit union-exclusive regulatory relief provisions. Read More