There was big news yesterday for credit unions as the House Financial Services Committee approved the CHOICE Act to overhaul Dodd-Frank. League sources reported that the Durbin repeal is still in the bill with no amendment to strip it out. The committee approved the bill along party lines, 34-26. It now goes to the House floor for consideration.
There is currently no set timetable to get the bill on the House floor, although sources report that May or June are the most likely times to hope to see action. The LSCU will continue to update as more movement on the bill continues. Read more at CU Times.