WASHINGTON—The Senate Appropriations Committee unanimously approved its fiscal year 2019 financial services and general government (FSGG) appropriations bill.
The bill maintains full funding for the Treasury Department's Community Development Financial Institutions (CDFI) program.
In addition to funding the CDFI program at $250 million, the Senate's FSGG bill provides $2 million to the NCUA's Community Development Revolving Loan Fund (CDRLF), $699 million for the Small Business Administration (SBA) and increases the cap on SBA's 7(a) loan program to $30 billion.
The Senate FSGG bill now heads to the full chamber for consideration. The House Appropriations Committee recently advanced out of committee its version of the FSGG bill, which included $191 million for the CDFI program and also would delay the NCUA's risk-based capital rule.