25 THE NAFCU JOURNAL March–April 2023 related to the Financial Crimes Enforcement Network (FinCEN). In addition to FinCEN oversight, this subcommittee will devote significant attention to the United States’ economic and financial competition with China and continuing efforts to stop the financing of terrorism. Luetkemeyer participated in a fireside chat during our 2022 Congressional Caucus, where he spoke to NAFCU members about the importance of Congressional oversight of regulatory agencies, among other topics. Subcommittee on Oversight and Investigations Rep. Bill Huizenga, R-Mich., who was previously ranking member of the committee’s Capital Markets Subcommittee, has been named chair of the Subcommittee on Oversight and Investigations. This subcommittee has oversight authority for all agencies within the committee’s jurisdiction, including the NCUA and CFPB, and Huizenga has said his primary focus will be on holding regulators accountable for creating burdensome and arbitrary regulatory structures without actually providing meaningful consumer protections. When announcing this leadership position, McHenry said Huizenga’s broad experience with financial services issues makes him well-suited for this subcommittee’s expansive jurisdiction. NAFCU has worked with Huizenga on several pro-credit union policies and looks forward to working with him in this new capacity to ensure credit unions are protected from regulatory overreach. Subcommittee on Housing and Insurance Rep. Warren Davidson, R-Ohio, formerly the ranking member of the committee’s Task Force on Financial Technology, will chair the Housing and Insurance Subcommittee this Congress. The subcommittee’s jurisdiction over housing policy includes oversight of the Department of Housing and Urban Development (HUD) and the Federal Housing Finance Agency (FHFA). Davidson’s panel will also focus heavily on the insurance industry, which has a major economic presence in his home state. Of note for NAFCU members, this subcommittee’s jurisdiction includes the National Flood Insurance Program (NFIP); Congress will need to act on the NFIP before its authorization expires at the end of September. Relationships are the foundation of any successful advocacy operation. As the NAFCU Legislative Affairs team, we are consistently cultivating and maintaining relationships with members of Congress and their staff 365 days a year. These relationships ensure the voice of credit unions across the country is heard and understood. NAFCU works diligently with the House Financial Services Committee and their staff, which regularly results in the sponsorship of pro-credit union bills, support for NAFCU’s position on issues and attendance at NAFCU’s annual Congressional Caucus. While our team continues to successfully amplify the voice of credit unions before the committee and all of Congress, we can’t do it alone. The continued engagement of NAFCU members in the legislative arena is essential for bolstering and defending the credit union industry. All NAFCU members are encouraged to participate in grassroots campaigns, the association’s legislative and regulatory committees, and joining the association on Capitol Hill for meetings. NAFCU is honored to be entrusted by our members to advocate for the credit union industry. Rep. Bill Huizenga NAFCU Senior Director of Legislative Affairs Chad Adams with Rep. Blaine Luetkemeyer. “ Without consumer choice, we’re worse off. I think it’s important that we embrace innovation and drive for innovation. ” REP. PATRICK MCHENRY, CHAIRMAN, HOUSE FINANCIAL SERVICES COMMITTEE
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