The House voted 309-118 Wednesday in favor of the Consolidated Appropriations Act for Fiscal Year 2017, which would fund the government through Sept. 30 and addresses a number of CUNA-supported priorities.
The bill fully funds the Treasury’s Community Development Financial Institutions (CDFI) Fund, which was zeroed out in President Donald Trump's proposed budget, but CUNA, credit unions, leagues and other stakeholders heavily advocated for full funding. In fact, the CDFI Fund is now funded at $248 million, an increase of $14.5 million over last year.
In addition to full CDFI funding, the bill’s report language addresses a number of CUNA regulatory relief priorities.
These include urging the Consumer Financial Protection Bureau to report on the use of its section 1022 exemption authority and calls to revisit troublesome rulemakings such as the Telephone Consumer Protection Act order and the Foreign Account Tax Compliance Act.
The bill will now head to the Senate, and must be signed by the president by Friday at midnight to avoid a government shutdown.