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News Now

Washington
Rep. Emerson to lead appropriations finance subcommittee
WASHINGTON (1/11/11)—Rep. Jo Ann Emerson (R-Mo.) has been appointed Chairman of the House Appropriations Committee’s financial services subcommittee. The National Credit Union Administration’s Central Liquidity Facility (CLF) and Community Development Revolving Loan Fund (CDRLF) fall under the jurisdiction of Emerson’s subcommittee. The U.S. Treasury's Community Development Financial Institutions (CDFI) Fund and the Small Business Administration are also overseen by this subcommittee. Congress in 2010 appropriated $1.25 million in funds to the NCUA's CDRLF, which provides loans and technical assistance to federal and state credit unions that are designated as low-income credit unions. The CDFI Fund has made $135 million in funds available to eligible community development financial institutions, including credit unions. Emerson has met frequently with representatives of the Missouri Credit Union Association, discussing small business lending and interchange fees, among other items, during those meetings.


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