Depending on the outcome of certain procedural votes, the Senate could start its debate on legislation to revamp the regulation of financial services as early as Wednesday.
The issues of concern to credit unions-most of which center on the creation of a new entity to regulate consumer financial products-have taken a back seat recently to the debate on the structure of the vehicle for rescuing failing financial entities.
Lobbyists for CUNA and NAFCU said today they are in regular contact with lawmakers and staffs but said they aren't sure whether there will be amendments offered that reflect credit union concerns on issues, such as whether the definition of remittances is overly broad.
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