The House and Senate are both in session this week. The Senate is expected to release its version of the next phase of coronavirus legislation this week, while the House will consider a “minibus” appropriations bills with funding for Defense, Commerce, Justice, Science, Energy and Water Development, Financial Services and General Government (FSGG), Homeland Security, Labor, Health and Human Services, Education, Transportation, Housing and Urban Development.
The House FSGG bill passed the House Appropriations Committee July 15 with $273.5 million for the Treasury’s Community Development Financial Institutions (CDFI) Fund and $2 million for NCUA’s Community Development Revolving Loan Fund.
The House passed its first minibus bill Friday, containing several appropriations bills, as well as a CUNA-supported $17 million for the Cooperative Development Program, which funds initiatives run by the World Council of Credit Unions around the globe.
CUNA will also be engaged with two hearings this week with Consumer Financial Protection Bureau Director Kathy Kraninger. She is scheduled to make her semi-annual report before the Senate Banking Committee Wednesday at 10 a.m. (ET) and before the House Financial Services Committee Thursday at 12:30 p.m. (ET).
CUNA Chief Advocacy Officer Ryan Donovan discusses this week’s Congressional happenings, including CUNA’s priorities for the next round of COVID-19 relief legislation in this week’s Advocacy Update video. He also discusses the agenda for NCUA’s Thursday board meeting, which includes a final field-of-membership rule from NCUA.