The U.S. House of Representatives has recessed for the summer after becoming paralyzed by an inability to decide on a path forward to release documents related to the Jeffrey Epstein underage sex trafficking investigation. The House will not return to session until Tuesday, Sept. 9, which will also mark day one of our fall Hike the Hill. More information on this year’s hike can be found here.
NCUA Board Update
This week, NCUA’s two ousted board members Todd Harper and Tonya Otsuka won their case to overturn their dismissal in district court. As of this writing, we are unsure if they will retake their positions on the NCUA board or if the district court’s ruling will be stayed, pending the Department of Justice’s appeal.
Looking Ahead
Looking ahead to September, there is now likely to be a financial services title included in the National Defense Authorization Act. We will need to be prepared to make arguments for why the Credit Card Competition Act is bad for credit unions and their members once again during the fall Hike the Hill.
Also on the horizon is the prospect of a government shutdown if a funding agreement cannot be reached by the end of Sept. 30.
My advice? If you have federal employees in your membership, start getting prepared now.
