CUNA News
  • LOG IN
  • Create Account
  • Sign Out
  • My Account
  • LOG IN
  • Create Account
  • Sign Out
  • My Account
  • Topics
    • Community Service
    • Compliance
    • Credit Union Hero
    • Credit Union Rock Star
    • Credit Union System
    • Directors
    • Human Resources
    • Leadership
    • Lending
    • Marketing
    • Operations
    • Policy & Issues
    • Sales & Service
    • Technology
  • Credit Union Magazine
    • Buyers' Guide
    • COVID-19
    • Digital Edition
    • Credit Union Hero
    • Credit Union Rock Star
    • Subscribe
    • Advertise
    • Contact
  • Advertise
  • Awards
    • Nominate Credit Union Hero
    • Nominate Credit Union Rock Star
  • Podcasts
  • Videos
  • Jobs
  • Contact

News

Home » Sens. Padilla, Cramer call for extension of CLF flexibility
Policy & Issues

Sens. Padilla, Cramer call for extension of CLF flexibility

November 15, 2022
Cap2

Sens. Alex Padilla, D-Calif., and Kevin Cramer, R-N.D.—in coordination with CUNA, the California Credit Union League, and Dakota Credit Union Association—called for an extension of enhancements to the National Credit Union Administration’s Central Liquidity Facility to be included in the FY23 Senate National Defense Authorization Act.

The 2020 CARES Act made enhancements to CLF borrowing authority and membership requirements to help aid credit unions facing liquidity shortfalls due to the pandemic.

The enhancements are scheduled to expire at the end of 2022. The Senators called for language in the House-passed NDAA extending the increased borrowing authority and the membership and borrowing requirements to be included in the Senate version.

“To support our nation’s 5,000 credit unions and the communities they serve, we urge you to include a one-year extension of the CLF enhancements in any year-end legislative package,” Padilla and Cramer wrote.

Extension of CLF flexibility is one is a top CUNA-League priority for the remainder of the 117th Congress. CUNA noted its importance in a letter sent to all 535 members of Congress last week.

Credit Union Magazine: Spring 2023

Spring 2023

Credit Union Magazine’s Spring 2023 issue features the 2023 Credit Union Heroes and examines CUNA-League advocacy priorities, board leadership, the impact of financial well-being efforts, fee-related compliance issues, predictions for the year ahead, and more.
Digital Edition •  Subscribe

Trending

  • CUNA Mascot Madness: Voting opens for East Region

  • CUNA launches page with bank collapse response resources

  • League leaders highlight credit union difference, safety, soundness

Tweets by CUNA_News

Polls

CUNA Mascot Madness: Which Midwest Region mascot is your favorite?

View Results
More

Champion for the Credit Union Movement

Credit Union National Association is the most influential financial services trade association and the only national association that advocates on behalf of all of America's credit unions. We work tirelessly to protect your best interests in Washington and all 50 states. We fuel your professional growth at every level and champion the credit union story at every turn.

More CUNA

  • Membership
  • Contact Us
  • Careers

Resources for

  • Credit Union Advocates
  • Leagues
  • Press
  • Providers

Our Affiliates

  • American Association of Credit Union Leagues (AACUL)
  • Credit Union Awareness
  • Credit Union House
  • CUNA Strategic Services
  • National Credit Union Foundation
GET CUNA UPDATES
© 2023 Credit Union National Association | ADA Compliance Notice & Legal
Email Us