NAFCU keeps pushing for CU relief as Congress works on packages

The Senate today is set to vote on another “skinny” version of its proposed Phase 4 relief package that would provide targeted funding for expanded unemployment benefits, schools, vaccine production and distribution, and testing and tracing. Yesterday, the chamber voted on a separate bill addressing funding and improvements for the paycheck protection program (PPP), but the vote failed.

Ahead of today’s vote, NAFCU Vice President of Legislative Affairs Brad Thaler wrote Senate Majority Leader Mitch McConnell, R-Ky., and Minority Leader Chuck Schumer, D-N.Y., to urge them to include additional provisions in the skinny package to allow credit unions to better serve their 122 million members and small businesses.

Thaler specifically called for including these provisions in any final legislation:

• providing relief from credit unions’ member business lending (MBL) cap so they can provide more credit to small businesses impacted by the coronavirus pandemic;

 

continue reading »