There’s been a lot going on in D.C. this week. Here’s an overview.
Homebuyer’s Privacy Protection Act Receives Markup and HFSC Passage
Congressman Rose’s bill to curb the use of trigger leads in lending received a markup in the House Financial Services Committee yesterday. This is an important step toward the bill’s final passage and providing relief to credit union members from the inundation of calls following an application for a mortgage. The bill passed the House Financial Services Committee 46-0. The Tennessee League has been very supportive of this legislation and will continue to follow its path to becoming law.
GENIUS Act Set for Final Passage Without Interchange
Yesterday, Majority Leader Thune filed for a cloture vote on the GENIUS Act without the CCCA included (but a Hagerty substitute amendment reflecting a bipartisan compromise is included). The GENIUS Act will be subject to up to 30 hours of debate before the cloture vote. If the cloture motion passes, then the Senate will debate the underlying bill and any amendments that have been agreed upon before taking a final vote on the bill. The CCCA is unlikely to be germane to the bill after this cloture vote but amendments can still be made and called for a vote by unanimous consent.
This likely means that the CCCA has been blocked from inclusion in the GENIUS Act, but we will stay tuned to the amendment negotiations tomorrow and keep you apprised of any developments.
Green to Depart Congress
Congressman Mark Green has announced that he will be departing Congress before his term ends to accept a private sector job. Green, from Clarksville, is currently in his 4th term serving the 7th Congressional District. He is expected to formally resign his seat upon the passage of the Reconciliation package known as the “One Big Beautiful Bill Act.”
Department of General Services Commissioner Matt van Epps resigned his position in Governor Bill Lee’s cabinet and has already declared his candidacy for the seat.
In addition, several other names have already been reported by State Affairs as interested in running during a special election for the seat. Those include State Senator Bill Powers of Clarksville; Chris Burger, a former Bill Lee campaign leader who now runs a public affairs firm; and former state Representative Brandon Ogles, who is also a cousin to current 5th Congressional District representative Andy Ogles.
Other names to watch include State Senate Majority Leader Jack Johnson and Judiciary Committee Vice-Chair Kerry Roberts.
One potential Democratic challenger on the other side of the aisle is State Rep Vincent Dixie, who has already publicly indicated that he is considering a bid. The seat is projected to remain in GOP control, but special elections are often low turnout events in which the president’s party sometimes struggles.
Your League in D.C.
Your League visited Washington this week to meet with members of our Tennessee delegation. We met with Senator Blackburn’s staff and reiterated our position on the credit union tax status. Sarah visited the Visa Payments Vault with Van Hilleary, chief of staff to Congressman Rose. We learned about the steps Visa is taking to protect payments, fight fraud and innovate in the payment space.
Photo Caption: Sarah Waters, chief advocacy officer at the Tennessee Credit Union League, and Van Hilleary, chief of staff for Rep. Rose, visit the Visa Payments Vault in D.C. to learn more about how Visa is protecting payments, fighting fraud and innovating the payment space.
