November 08, 2021

This week: NAFCU remains engaged on top CU issues

CapitolWith the House and Senate out on scheduled recess, NAFCU this week continues to keep credit union priorities top of mind.

Of note, the House on Friday passed the bipartisan infrastructure package, clearing the way for the President to sign it.  The House also took a procedural step by adopting a rule allowing future consideration of the Build Back Better Act reconciliation package when the House returns from recess next week. Though the current version of the House package does not include the NAFCU-opposed IRS reporting requirements, it does include a proposal that would grant the Small Business Administration (SBA) direct lending authority to offer 7(a) loans of $150,000 or less to borrowers or “through partnerships with third parties.” NAFCU has continuously voiced opposition for this proposal and will continue to advocate against its inclusion in the final legislation.

For more on this topic, NAFCU President and CEO Dan Berger detailed why the proposal is flawed in a new op-ed featured in American Banker.

NAFCU is also preparing to kick off its Virtual Risk Management Seminar next week. During the seminar, attendees will gather the knowledge needed to prepare for the most serious internal and external threats facing credit unions – from interest rate risk to reputational risk.

Attendees will also have the opportunity to earn the prestigious NAFCU Certified Risk Manager (NCRM) designation during the seminar. View the full agenda for more information.

Also happening this week:

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