CDFI Fund, CDP in Senate FY21 appropriations bills

November 10, 2020

The Senate Appropriations Committee released its FY2021 funding bills Tuesday, with several containing funding for credit union priorities. Funding for the federal government is scheduled to expire Dec. 11.

The State and Foreign Operations (SFOPs) bill contains $20 million for the U.S. Agency for International Development’s Cooperative Development Program (CDP). The House-passed SFOPS bill funds the CDP at $17 million.

CUNA supports funding for the program, a global initiative that focuses on building capacity of cooperative businesses and cooperative systems for self-reliance, local ownership, and sustainability.

The Financial Services and General Government bill:

  • Funds the Treasury’s Community Development Financial Institutions (CDFI) Fund at $262 million, the same as FY2020. The House-passed bill funds it at $273.5 million;
  • Does not include funding for NCUA’s Community Development Revolving Loan Fund. The House bill funds the CDRLF at $2 million.
  • Contains language in the report encouraging the Federal Communications Commission and the Federal Trade Commission to continue to engage with groups to reduce the number of robocalls nationwide and help protect consumers from fraudulent calls and scammers.