Removing Barriers Blog

CUNA Monitors Nominations to Key Administration Posts
Posted January 24, 2017 by CUNA Advocacy

The Senate Banking Committee today voted unanimously in favor of Dr Benjamin Carson to serve as Secretary of the Department of Housing and Urban Development (HUD). Meanwhile, the Senate Committee on Small Business voted in favor of Linda McMahon to serve as Administrator of the Small Business Administration (SBA). Both nominations now move to the full Senate, where they are expected to be confirmed. 

HUD is home to the Federal Housing Administration (FHA), and recently announced that it would rescind a cut in the mortgage premiums charged to many first time and low income homebuyers. The SBA, which primarily guarantees certain small business lending, also runs an Office of Advocacy, which recently weighed in on the CFPB's Payday Rule, expressing serious concerns that it could negatively impact small entities.