WASHINGTON—The House has passed its “minibus” appropriations bill that includes funding for the CDFI fund and Comunity Development Revolving Loan Fund.
Separately, NAFCU has sent a letter to the House raising concerns around privacy legisltion.
Regarding the passage of the minibus bill, CUNA CEO Ji Nussle said, "This funding will help to combat the lingering effects of the COVID-19 emergency on the ability of small businesses and individuals to access credit and basic financial services,” wrote CUNA President/CEO Jim Nussle in support of the bill.
The bill contains:
- $336 million for the CDFI Fund, which makes capital grants, equity investments and awards for technical assistance to certified CDFIs.
- $4 million for the CDRLF, which funds a revolving loan program and a technical assistance program.
Ahead of the passage, CUNA had written to House leadership prior to the vote supporting appropriate funding levels for both the CDFI Fund and CDRLF.
NAFCU has Concerns With ADPPA
Meanwhile, ahead of the House Energy and Commerce Committee hybrid markup of several bills, NAFCU voiced several concerns regarding the American Data Privacy and Protection Act (ADPPA).
In the letter, Senior Vice President of Government Affairs Greg Mesack reiterated that the trade group’s position that a comprehensive federal data privacy legislation should:
- Fully respect successful existing federal data privacy legislation and regulation and wholly exempt credit unions and other already closely-regulated entities
- Expressly preempt all state data privacy legislation and regulation
- Vest exclusive rulemaking and discretionary enforcement authorities in covered entities’ respective primary federal regulators
In the letter, Mesack also repeated NAFCU’s support for the Securing and Enabling Commerce Using Remote and Electronic Notarization Act, citing what NAFCU said is need for a national standard to permit remote online notarization.
Mesack wrote that its passage would be critical in helping businesses “leverage technology to continue to keep Americans safe while also meeting their needs into the future through innovation.”
The legislation would also provide businesses and consumers the ability to execute critical documents using two-way audiovisual communication, NAFCU noted.
The Very Best in CU Reporting. For You. For Free. Or Your Money Back
Don’t forget to check your Spam/Junk email folder if you haven’t been receiving your free, popular and daily CUToday.info news headlines.
And if you haven’t yet signed up for the new email solution on which CUToday.info has partnered with ResponseGenius, you can do so here. Signing up requires less than one minute of your time.
CUToday.info has received very positive response from readers following the move to an improved provider of the daily headlines, but many also noted they did need to go to their Spam/Junk folder and mark it as safe.
The new email solution has not only improved every reader’s delivery experience, but it also features a fresh, new format that is easy to read, especially on mobile devices.
Please note and/or make your IT department or email administrator aware the emails will be coming from the domains CUTodayinfo.com and CUTodayinfoReply.com.