WASHINGTON—Ahead of the Senate Appropriations Committee’s markup to its version of the fiscal year 2024 Financial Services and General Government (FSGG) appropriations bill, NAFCU called on the committee to provide full funding for the CDFI Fund, the Community Development Revolving Loan Fund (CDRLF), and the Financial Crimes Enforcement Network (FinCEN).
Vice President of Legislative Affairs Brad Thaler noted NAFCU’s “disappointment” with the House Subcommittee version of the FSGG bill, which included less money than earlier years, $278 million for the CDFI Fund and $3.5 million for the CDRLF, and urged senators to at least meet President Biden’s proposed levels for these programs used by credit unions.
“This would provide the basic resources needed to keep these important programs properly functioning,” Thaler wrote. “These programs have proven to be an invaluable means of providing financial services to underserved areas.”
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