Newsroom
NAFCU reiterates priorities ahead of Senate approps FSGG markup
The Senate Appropriations Committee today is set to markup its version of the fiscal year 2024 Financial Services and General Government (FSGG) appropriations bill. Ahead of the markup, NAFCU Vice President of Legislative Affairs Brad Thaler called on the committee to provide full funding for the Community Development Financial Institutions (CDFI) Fund and the Community Development Revolving Loan Fund (CDRLF), as well as the Financial Crimes Enforcement Network (FinCEN).
Thaler noted NAFCU’s disappointment with the House Subcommittee version of the FSGG bill, which included $278 million for the CDFI Fund and $3.5 million for the CDRLF, and urged senators to at least meet President Joe Biden’s proposed levels for these programs used by credit unions. The full House Appropriations Committee also is scheduled to meet today to consider that version of the FSGG package; Thaler weighed in with the House Appropriations Committee last month.
“This would provide the basic resources needed to keep these important programs properly functioning,” Thaler wrote the senators. “These programs have proven to be an invaluable means of providing financial services to underserved areas.”
As part of both efforts, Thaler reiterated credit unions’ concerns related to the CDFI Fund’s delay to its certification application as the fund works to revise the application and process – revisions that could make it more difficult for small and minority depository institution (MDI) credit unions to become certified – and the potential loss of certification status without the opportunity to requalify. Thaler asked the committee to consider adding provisions to increase CDFI transparency.
NAFCU will continue to monitor the appropriations process and advocate for credit union priorities.
Share This
Related Resources
Add to Calendar 2024-06-26 14:00:00 2024-06-26 14:00:00 Gallagher Executive Compensation and Benefits Survey About the Webinar The webinar will share trends in executive pay increases, annual bonuses, and nonqualified benefit plans. Learn how to use the data charts as well as make this data actionable in order to improve your retention strategy. You’ll hear directly from the survey project manager on how to maximize the data points to gain a competitive edge in the market. Key findings on: Total compensation by asset size Nonqualified benefit plans Bonus targets and metrics Prerequisites Demographics Board expenses Watch On-Demand Web NAFCU digital@nafcu.org America/New_York public
Gallagher Executive Compensation and Benefits Survey
preferred partner
Gallagher
Webinar
AI in Action: Redefining Disaster Preparedness and Financial Security
Strategy
preferred partner
Allied Solutions
Blog Post
Add to Calendar 2024-06-21 09:00:00 2024-06-21 09:00:00 2024 Mid-Year Fraud Review Listen On: Key Takeaways: [01:16] Check fraud continues to be rampant across the country. Card fraud is affecting everyone. [04:31] Counterfeit US passport cards are just another new toolbox in the bad actors’ toolbox. [07:21] Blocking the fallback is the only way to defeat counterfeit cards. [11:17] The best way is constant education to your members in as many channels as you can. [13:02] We are still seeing overdraft lawsuits. Make sure the programming you have at your credit union matches what you have displayed for the members. Web NAFCU digital@nafcu.org America/New_York public
2024 Mid-Year Fraud Review
Strategy & Growth, Consumer Lending
preferred partner
Allied Solutions
Podcast
Get daily updates.
Subscribe to NAFCU today.