X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

WASHINGTON-The House was expected to consider an appropriations bill affecting NCUA last week after deadline. According to NCUA Director of Governmental and Congressional Affairs Cliff Northup, the House was going to consider H.R. 3058, making appropriations for the Departments of Transportation, Treasury, and Housing and Urban Development, the Judiciary, District of Columbia, and independent agencies last Thursday. NCUA’s Central Liquidity Facility and Community Development Revolving Loan Fund Program fall under the independent agencies category. The House and Senate bills were reconciled earlier in the week. H.R. 3058 includes $950,000 in grant money for the CDRLF to be spent over two years, Northup explained. Typically, the agency has received $1 million to be spent in one year, but NCUA tightened its belt some to help with government-wide savings efforts. NCUA had asked for two years to be able to distribute the funds, he said, because of differences in the congressional and agency fiscal calendars. The bill would also set a $1.5 billion borrowing authority for the CLF, as has been tradition since Y2K. Northup was hopeful that the Senate would also take up the bill and pass it before adjourning, if not as a standalone, then at least as part of an omnibus appropriations package.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?

 

Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times
Live Chat

Copyright © 2022 ALM Media Properties, LLC. All Rights Reserved.