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The Senate Friday passed two important pieces of legislation: A continuing resolution to extend federal government funding to Dec. 18 and the fiscal year 2021 National Defense Authorization Act (NDAA). While President Donald Trump signed the funding bill to avert a shutdown, he has threatened to veto the NDAA; however, the NDAA passed both chambers by veto-proof majorities.

Government funding was set to expire at midnight Friday, but the continuing resolution was passed to give negotiators additional time to reach an agreement on a longer-term funding deal. Negotiations also continue on additional coronavirus relief provisions after a bipartisan package was recently introduced, some of which could be added to the larger funding package.

NAFCU has urged Congress to include full funding for programs used by credit unions: The NCUA's Community Development Revolving Loan Fund (CDRLF), Treasury's Community Development Financial Institutions (CDFI) Fund, and small business lending programs. The association is also continuing to advocate for more pandemic relief for credit unions and for Congress to make improvements to the paycheck protection program (PPP).

The final NDAA included several wins for credit unions, including added language to make Bank Secrecy Act (BSA)/anti-money laundering (AML) reforms and the removal of a provision that would have made changes to on-base leases sought by the banking industry. NAFCU had urged the House and Senate to swiftly pass the legislation after the conference committee released its report.

Stay tuned to NAFCU Today for the latest out of Capitol Hill.