House appropriations bills address credit union funds, priorities

by America's Credit Unions

House appropriators released Financial Services and General Government (FSGG) and State, Foreign Operations, and Related Programs (SFOPS) legislation for FY25 Tuesday with several items of interest for credit unions.

Financial Services and General Government

The FSGG bill has $276 million for the Treasury’s Community Development Financial Institutions (CDFI) Fund ($49 million less than President Joe Biden’s budget request); $3.42 million for the NCUA’s Community Development Revolving Loan Fund (CDRLF) ($0.58 million less than Biden’s request); and $170 million for the Financial Crimes Enforcement Network ($46 million less than Biden’s request.

America’s Credit Unions President/CEO Jim Nussle wrote to the House FSGG subcommittee prior to its markup of the bill and called for $500 million for the CDFI Fund and $6 million for the CDRLF in FY25.

 

continue reading »