CUNA engaged w/ Kraninger vote, gov’t funding, NFIP

December 3, 2018

CUNA will be engaged with Congressional negotiations to fund the federal government and extend the National Flood Insurance Program (NFIP) this week, as both are scheduled to expire Friday. The Senate is also expected to vote on the nomination of Kathy Kraninger to serve as director of the Bureau of Consumer Financial Protection.

The Senate voted to end debate on the Kraninger nomination last week, setting up a final vote on the coming days. CUNA wrote to Senate leadership last week, favoring the idea of a permanent director but reiterating its call for a bipartisan, multimember commission to lead the bureau.

Due to the passing of former President George H.W. Bush, the House will not vote this week and the Senate is not expected to be in before Wednesday.

CUNA anticipates both chambers to pass a short-term spending measure to fund the government beyond Dec. 7.

Funding for the NFIP was scheduled to expire last week, but President Donald Trump signed a one-week extension.

CUNA supports a long-term extension of NFIP, as many credit unions offer mortgages to members around the country, including in areas covered by flood insurance requirements.

CUNA is also engaged in several hearings this week, including a Thursday House Financial Services Committee hearing titled “A Legislative Proposal to Provide for a Sustainable Housing Finance System: The Bipartisan Housing Finance Reform Act of 2018.”