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Congress was able to reach an agreement on government funding over the weekend, averting a government shutdown before funding expired at midnight on Saturday. The continuing resolution funds the government through Nov. 17, and extends the National Flood Insurance Program (NFIP).

Last week, NAFCU called on Congress to prevent a lapse in the NFIP, which could result in the delay of as many as 1,300 real estate closings per day. 

NAFCU remains engaged as lawmakers in the coming weeks try to work out a deal on longer term government funding and continues to fight back against efforts to attach the big box bailout legislation to funding proposals.

NAFCU has urged Senators to oppose efforts on the big box bailout bill led by Sens. Roger Marshall, R-Kansas, and Dick Durbin, D-Ill., as well as one by Josh Hawley, R-Mo., to cap credit cards’ annual percentage rate at 18 percent. Several other industries are also strongly opposed to this big box bailout bill. Credit unions are urged to bolster the fight by contacting legislators via NAFCU’s Grassroots Action Center.

Also happening this week:

• NAFCU’s Share Insurance Fund (SIF) Committee meets today;
• Tuesday, the Supreme Court is expected to hear oral arguments for the CFSA v. CFPB case, NAFCU will monitor and provide updates for credit unions via NAFCU Today;
• Tuesday, the NCUA kicks off its 2-day Minority Depository Institutions (MDI) Symposium; and
• Thursday, NAFCU will host a webinar to provide an update on the Automated Clearing House Network.

Stay tuned to NAFCU Today for the latest out of Washington.