August 30, 2021

This week: NAFCU to testify on PPP forgiveness process; House Committee tackles NDAA

Capitol HillIn the last week of August, the Senate remains back home in their states while House committees meet to discuss several industry hot topics, including marking up the House version of the Fiscal Year (FY) 2022 National Defense Authorization Act (NDAA)  and a hearing on the Small Business Administration’s (SBA) paycheck protection program (PPP) loan forgiveness process. NAFCU's award-winning advocacy continues to serve credit unions by keeping industry priorities top-of-mind lawmakers.

NAFCU will participate in the virtual House Small Business Committee hearing on the loan forgiveness phase of the Paycheck Protection Program (PPP). During the hearing entitled “What Comes Next? PPP Forgiveness”, happening Wednesday afternoon, Leslie Payne, AVP of Commercial Lending at Affinity Federal Credit Union, will testify on behalf of NAFCU as the sole representative of credit unions in the hearing.  

Additionally, the House Armed Services Committee will meet Wednesday to mark up its version of the FY 2022 NDAA.  The Senate Armed Services Committee marked up its version of the legislation last month in closed session, but has not released the adopted text.  NAFCU’s advocacy on the FY2022 NDAA began earlier this year and the association continues to engage with both the Senate and House as they consider it to protect credit union nominal leases on military installations and prevent efforts to allow all banks to operate rent-free on military bases.

Also of note this week:

  • tomorrow, NAFCU will host a webinar on the Nacha 2021 Update where attendees will learn how the new NACHA Operating Rule amendments can impact and benefit the credit union. Additionally, the webinar will cover a new change coming for Same Day ACH in 2022. The webinar is scheduled to begin at 2:00 p.m. Eastern.

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