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July 12, 2013 – Senate Banking Committee Chairman Tim Johnson, D-S.D., and Ranking Member Mike Crapo, R-Idaho, announced on Thursday that they had come to an agreement on a bipartisan bill to address the solvency of the Federal Housing Administration.

"After months of hard work we have reached bipartisan agreement on a path forward to give the FHA the tools it needs to get back on stable footing," Johnson and Crapo wrote. "We believe we have found solid common ground and are optimistic that we will be able to move this bipartisan legislation forward expeditiously."

Johnson and Crapo said the Banking Committee agreed earlier this year to address the FHA financial issues before tackling housing finance reform legislation. They said they will release the details about the bill publicly next week. NAFCU will continue to monitor the bill's progress and its potential impact on credit unions.