FOR IMMEDIATE RELEASE | December 18, 2015

NAFCU Statement on Omnibus Headed to President's Desk


NAFCU Statement on Omnibus Headed to President's Desk

Washington (Dec.18, 2015) -National Association of Federal Credit Unions (NAFCU) President and CEODan Berger issuedthe following statement in response to the Senate approval today of a combined tax cut extension and spending package, after the House approved the $1.1 trillion spending bill earlier this morning and the tax cut extensions on Thursday.

"NAFCU and our members thank the Senate for approving measures to keep our government working," said Berger. "We look forward to the President signing the bill into law."

The package will fund the government through September 2016, as part of an omnibus agreement reached earlier this week.

The omnibus includes:

  • a NAFCU-backed provision requiring NCUA to report to Congress on appropriate capital requirements for mortgage servicing assets related to its risk-based capital rule;
  • the conference report for the NAFCU-backed "Cybersecurity Information Sharing Act," which would encourage faster sharing of cyber-threat information between the business and government sectors;
  • a provision that would require CFPB committee and subcommittee meetings to be open to the public; and
  • a provision that would help ensure the confidentiality of information shared between federal financial regulators and state regulatory agencies.

President Barack Obama is expected to sign the bill later today.

The National Association of Federal Credit Unions is the only national trade association focusing exclusively on federal issues affecting the nation's federally insured credit unions. NAFCU membership is direct and provides credit unions with the best in federal advocacy, education and compliance assistance.


Patty Briotta
Director of Public Relations