The House Appropriations Committee Wednesday passed the fiscal year 2021 Financial Services and General Government Appropriations Act. The bill funds the Treasury’s CDFI Fund at $273.5 million, and NCUA's CDRLF at $2 million and protects financial institutions serving legal cannabis businesses.
Credit union-supported candidates saw several victories in primary elections Maine and runoff elections in Alabama in Texas Tuesday. Candidates were backed by state credit union Leagues and CUNA’s political action committee, the Credit Union Legislative Action Council.
Credit unions have supported more than a million pandemic-affected members through the Paycheck Protection Program (PPP), CUNA Chief Advocacy Officer Ryan Donovan wrote Tuesday to all 535 Congressional offices.
Credit unions have supported more than a million pandemic-affected members through the Paycheck Protection Program, as more than 900 credit unions have made more than 196,000 loans, averaging $49,487 per loan. Those loans have supported 1.18 million jobs.
Kyle Hauptman, nominated by the president to serve on the NCUA board, will appear before the Senate Banking Committee July 21. The hearing is scheduled to begin at 10 a.m. (ET), and will be livestreamed on the committee’s website.
CUNA continued its engagment with the FCC by sending a joint letter supporting FCC’s goals of eliminating illegal automated calls but working to ensure consumers receive important, time-sensitive calls from financial institutions, healthcare providers and other legitimate entities.
CUNA supports the FinCEN updating the Paperwork Reduction Act burden estimates from complying with a BSA requirement for financial institutions to report transactions in currency of more than $10,000 using a CTR. The proposed updates change the PRA analysis for new CTR rulemakings.
Congress is out of session this week, but the House will continue to host committee meetings and CUNA will be engaged with several of them related to the pandemic, including worker protections, lending and small business recovery, as well as government appropriations.
Credit unions interested in learning more about updates to SBA lending programs, including the Paycheck Protection Program, can get information on a conference call that begins at 3 p.m. (ET) on Tuesday. The SBA recently made several updates to the program.