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The House Appropriations Subcommittee on Financial Services and General Government yesterday approved legislation that includes NAFCU-sought provisions on CFPB funding and structure, and funds for low-income credit unions and small-business lending.

Approved by voice vote, the $21.7 billion 2017 fiscal year appropriations bill funding the Treasury Department, the Judiciary, the Small Business Administration and other related agencies will move on to the full committee for review.

Included in the bill is a NAFCU-backed provision that would bring CFPB's funding under the 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. NAFCU Vice President of Legislative Affairs Brad Thaler wrote the subcommittee leaders Tuesday to convey the association's support for the CFPB provisions.

Both House Appropriations Committee Chairman Hal Rogers, R-Ky., and Financial Services and General Government Subcommittee Chairman Ander Crenshaw, R-Fla., touted the legislation and its efforts to rein in agencies such as CFPB. Ranking Member José Serrano, D-N.Y., expressed concerns that the bill limits funding to the bureau.

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.

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.