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Yesterday, NAFCU sent a letter to the House Financial Services Committee to reiterate NAFCU’s strong support for H.R. 3958, the Central Liquidity Facility Enhancement Act, which makes the changes to the Central Liquidity Facility (CLF) in section 4016 of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) permanent.

 

“The CLF is an important emergency liquidity tool for credit unions, and the recovery from the pandemic will likely extend beyond this year,” wrote NAFCU's Vice President of Legislative Affairs Brad Thaler. “NAFCU believes strong liquidity is vital to ensuring loans to struggling families and small businesses continue to flow within the credit union system and taking this step now will help ensure that National Credit Union Administration has a critical tool to help credit unions the next time financial uncertainty arises.”

The letter concluded by urging the committee to support H.R. 3958 at the markup.

NAFCU  will continue to work with Congress to ensure credit unions have the tools needed to provide support for their members amid the pandemic and into the future.