Removing Barriers Blog

Letter sent to HFSC prior to Markup for Budget Reconciliation
Posted February 10, 2021 by CUNA Advocacy

CUNA wrote to Chairwoman Waters and Ranking Member McHenry in advance of the House Financial Services Committee’s markup on the budget resolution (Reconciliation Pursuant to S. Con. Res. 5, the Concurrent Resolution on the Budget for Fiscal Year 2021) that allows the committee to spend $75 billion in reconciliation over a 10-year budget window.  

CUNA wrote supporting the inclusion of $9.961 billion allocated to states, territories, and tribes for direct assistance with mortgage payments, property taxes, utilities, and other housing costs.   

We also urged further Congressional action on COVID-19 is needed to ensure that credit unions remain in a position to serve their more than 120 million members including: 

  • Provide temporary flexibility to NCUA to offer forbearance from Prompt Corrective Action requirements; and 

  • Exempt member business loans from the cap during and for one year after the national emergency.