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NAFCU-sought provisions on CFPB funding and structure plus funds for low-income credit unions and small-business lending are all addressed in legislation slated for mark-up today by a House Appropriations subcommittee.

NAFCU will be following today's House Appropriations Subcommittee on Financial Services and General Government's mark-up of the $21.7 billion 2017 fiscal year funding bill.

The bill provides annual funding for the Treasury Department, the Judiciary, the Small Business Administration and the Securities and Exchange Commission, among other related agencies.

Included in the bill is a NAFCU-backed provision that would bring CFPB's funding under the annual congressional appropriations process. The legislation also includes a NAFCU-sought change to the leadership structure of the bureau from a single director to a five-member commission.

The appropriations bill also includes $250 million for the Community Development Financial Institutions Fund and $2 million for the Community Development Revolving Loan Fund, which helps low-income credit unions meet needs in economically distressed areas.

NAFCU Vice President of Legislative Affairs Brad Thaler wrote subcommittee Chairman Ander Crenshaw, R-Fla., and Ranking Member José Serrano, D-N.Y., on Tuesday noting the association's support for the CFPB provisions and the funding for the CDFI Fund and NCUA's CDRL Fund.

Also in the bill is $883 million for the SBA to help promote opportunities for American small businesses. The SBA funding includes full funding – $157 million – to support $28.5 billion in 7(a) small-business loans. Each SBA-guaranteed loan dollar from a credit union is excluded from its member business loan limit, allowing credit unions to make the most of their MBL authority.

In February 2015, NAFCU and SBA inked an agreement aimed at getting more credit unions to increase their lending to member-small businesses through SBA micro-loan programs.