Sen. Tim Scott (R-SC) along with Reps. Ed Royce (R-CA) and Blaine Luetkemeyer (R-MO) will be among the speakers at the National Association of Federally Insured Credit Unions (NAFCU) Congressional Caucus, held Sept. 10-13 in Washington, D.C.
The speakers are slated to address the most important legislative and regulatory issues facing the credit union industry at the Congressional Caucus, NAFCU’s lobbying event.
Scott, chairman of the Senate Banking Subcommittee on Housing, Transportation, and Community Development, served for seven years on the board of NAFCU-member Heritage Trust Federal Credit Union in Charleston, South Carolina. He also sits on the Senate Committees on Finance; Health, Education, Labor and Pensions; Small Business and Entrepreneurship; and Special Aging.
Scott and Sen. Mark Warner (D-VA) are the chief sponsors of the NAFCU-supported Credit Score Competition Act (S. 1685), which would authorize the Federal Housing Finance Agency to set standards and criteria for any process used by either enterprise to validate and approve credit scoring models.
Royce, in addition to chairing the House Foreign Affairs Committee, serves as a senior member of the House Financial Services Committee. He is a chief sponsor of the Credit Union Residential Loan Parity Act (H.R. 389), introduced earlier this year to exempt certain residential loans from credit unions’ federal statutory cap on member business lending.
Luetkemeyer is chairman of the House Financial Services Subcommittee on Financial Institutions and Consumer Credit. He also serves as vice chair of the House Small Business Committee. In April, he reintroduced his NAFCU-backed Community Lending Enhancement and Regulatory Relief (CLEARR) Act (H.R. 2133), which contains several provisions for regulatory relief for credit unions.