The Credit Union National Association recently said that it looks forward to working with new members of the House Financial Services Committee and Senate Banking Committee members in the next session of Congress.
Elizabeth Warren, a Harvard professor and possibly the most high-profile committee member, is reportedly set to join the Senate Banking Committee in January. Warren, a credit union member and supporter, is widely credited with having created the Consumer Financial Protection Bureau.
Warren was endorsed by the Massachusetts Credit Union League during her campaign for the Senate and thanked the institutions for their support in her victory speech last month.
Additionally, Mike Crapo (R-Idaho) will replace Sen. Richard Shelby (R-Ala.), who has reached his term limit on the Senate Banking Committee, as the committee’s ranking Republican. Sen. Joe Manchin (D-W. Va.) is also expected to join the committee next year.
Reps. David Schweikert (R-Ariz.) and Walter Jones (R-N.C.), as well as ranking Democrat Barney Frank (Mass.), are set to leave the HFSC, while Reps. Randy Hultgren (R-Ill.), Marlin Stutzman (R-Ind.), Dennis Ross (R-Fla.), Mick Mulvaney (R-S.C.) and Rep.-elect Ann Wagner (R-Mo.) are poised to join the committee.
Assignments to the HFSC and Senate Banking Committee will not be made official until the new Congress meets in January.