The Senate Appropriations Committee unanimously passed its financial services and general government (FSGG) bill Thursday.
The bill would create a new account called the Cybersecurity Enhancement Account, for which the committee recommended $47,743,000. The initiative is designed to “bolster the Treasury’s cybersecurity posture and mitigate threats to the U.S. financial infrastructure."
The account would also aim to:
The bill funds the NCUA’s Community Development Revolving Loan Fund (CDRLF) at $2 million. The fund provides grants and loans to low-income designated credit unions.
It also funds the Treasury’s Community Development Financial Institutions Fund at $234 million, $500,000 more than fiscal year 2016 and $16 million less than the FSGG bill passed last week by the House Appropriations Committee.
An amendment was adopted from Sen. Jeff Merkley (D-Ore.) that would prohibit funds from being used to penalize financial institutions that provide financial services to certain persons in states and jurisdictions where marijuana is legal. A similar amendment was adopted by the committee last year.