hold on there's just too much going on in Congress lmao...
Disapproves credit union rule removing fee reporting requirements.
Senators Warren, Booker, and Blumenthal.
Introduced in Senate, awaiting committee review.
This joint resolution seeks to block a rule from the National Credit Union Administration (NCUA) that removed requirements for credit unions to report certain fees. Senators Elizabeth Warren, Cory Booker, and Richard Blumenthal introduced it. The bill is currently with the Senate Banking, Housing, and Urban Affairs Committee for consideration, meaning it hasn't been voted on by the full Senate yet.
Introduced Mar 24, 2026
This bill was introduced in the Senate on March 24, 2026, and referred to the Committee on Banking, Housing, and Urban Affairs. For it to become law, it must pass both the Senate and the House of Representatives, and then be signed by the President. Currently, it needs committee approval before it can proceed to a full Senate vote.
If this bill passes, credit unions would continue to be required to report certain fee information to the National Credit Union Administration (NCUA). This could ensure that regulators retain data for oversight and that credit union operations remain transparent regarding fees charged to members. Without this bill, the NCUA's withdrawal of these reporting requirements would take effect, potentially reducing the public availability of detailed fee data.
Supporters Say
Supporters argue this bill ensures transparency for credit union members and maintains regulatory oversight of fees.
Critics Say
Critics might contend that the NCUA's original rule reduces unnecessary administrative burden on credit unions.
Those in favor likely prioritize consumer protection and clear financial reporting, believing that reporting requirements help members understand costs and allow regulators to monitor practices. Opponents of this bill (who supported the NCUA's original rule) might argue that removing some reporting requirements streamlines operations for credit unions, potentially reducing their costs without significantly harming consumers.