Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Washington
Financial services appropriations ready for House vote
WASHINGTON (6/21/12)--Financial services appropriations legislation for the 2013 fiscal year will move on to the full House after it was approved by a Wednesday House Appropriations Committee voice vote.

Under the House bill:

  • The National Credit Union Administration's (NCUA) Community Development Revolving Loan Fund (CDRLF) program would receive $500,000 in funding; and
  • The U.S. Treasury's Community Development Financial Institutions (CDFI) Fund would receive $221 million in funding.
The NCUA's Central Liquidity Facility (CLF) is not addressed by the legislation, and, thus, would retain its current lending authority of 12-times its paid-in capital.

Senate appropriations legislation, which awaits action by the full Senate, would provide $233 million in CDFI Fund backing and $1.19 million in CDRLF funds, and would maintain the CLF at its current level.

Final versions of the House and Senate appropriations bills will be subject to a reconciliation process before they are moved on for final approval by President Barack Obama.

The Obama administration requested $1.19 million in CDRLF funds, $221 million for the CDFI Fund, and continued full authority for the CLF in its suggested 2013 fiscal year budget.
Other Resources

RSS print
News Now LiveWire
NCUA confirmed earlier indications that there would be no National Credit Union Share Insurance Fund premium for 2014.
10 hours ago
.@NJCUL supported prized-linked savings legislation introduced in New Jersey state Senate.
10 hours ago
#creditunions emphasize co-op principles during National Co-op Month #NewsNow http://t.co/zEb9UFot1N
16 hours ago
Servicemember's spouse drives away with Bank on More's SUV thanks to #missouri #creditunions http://t.co/WvTrKxh0sV
18 hours ago
From @FHFA this a.m.: U.S. house prices up 0.5% in Aug. on seasonally adjusted basis from previous month. More here: http://t.co/1yVDOPggeX
19 hours ago