The House adjourned Thursday until July 5 putting off a vote on the Financial Services and General Government (FSGG) appropriations bill indefinitely. The bill contains a number of CUNA-backed regulatory relief provisions, and CUNA wrote to House leadership this week to urge its passage.
H.R. 5485 would offer CUNA-advocated regulatory relief in areas including the Consumer Financial Protection Bureau, mortgage lending, the Foreign Account Tax Compliance Act, the Telephone Consumer Protection Act and more.
It would also fund a number of credit union programs, including the NCUA’s Community Development Revolving Loan Fund, Treasury’s Community Development Financial Institutions Fund and the Small Business Administration’s 7(a) and 504 loan programs.
For more detail on the bill’s regulatory relief provisions, see News Now’s previous coverage.