Both chambers of Congress are back in Washington, D.C. this week for at least a few days, sessions are expected to conclude mid-week to allow members to travel for the 75^th anniversary of D-Day. The House is expected to vote on the Additional Supplemental Appropriations for Disaster Relief Act of 2019 (H.R. 2157). The bill contains an extension of the National Flood Insurance Program through Sept. 30, the end of the fiscal year.

The House Appropriations subcommittee on financial services and general government is scheduled Monday to mark up its appropriations bill for fiscal year 2020. The bill contains CUNA-backed funding levels for the Treasury’s Community Development Financial Institutions (CDFI) Fund and NCUA’s Community Development Revolving Loan Fund (CDRLF).

The bill would allow $300 million for the CDFI Fund, a CUNA-sought increase from this year’s $250 million. The fund makes capital grants, equity investments and other awards to certified CDFIs.

It would also allow $2 million for the CDRLF, which funds a credit union revolving loan program and a technical assistance program.

The legislation also contains language that would provide limited protection for financial institutions that serve legal cannabis businesses, by not allowing any funds appropriated in the bill to be used to penalize a financial institution providing services to such businesses.

CUNA will also be monitoring the House Armed Services Committee’s markup of the National Defense Authorization Act for Fiscal Year 2020 (H.R. 2500) to ensure language is not included that would allow banks rent-free access to military installations.

The subcommittees are expected to mark up the bill Tuesday, with the full committee markup starting Wednesday.

Other hearings CUNA is engaged with this week include:

• Tuesday, 10 a.m. (ET): House Ways and Means Committee Member’s Day hearing;
• Tuesday, 10 a.m. (ET): House Financial Services Committee hearing, “Promoting American Jobs: Reauthorization of the U.S. Export-Import Bank;”
• Tuesday, 2 p.m. (ET): House Financial Services subcommittee on consumer protection and financial institutions hearing, “Threats to Stability: Considering the Systemic Risk of Leveraged Lending;” and
• Wednesday, 10 a.m. (ET): Senate Banking Committee hearing on nominations.