WASHINGTON—The Senate has passed legislation that would expand the Federal Communications Commission's (FCC) enforcement authority over violations of the Telephone Consumer Protection Act (TCPA) and require voice services providers to authenticate and block illegal robocalls.
The bill now moves to President Trump for final action.
An earlier version of the Senate legislation, S. 151, the Telephone Robocall Abuse Criminal Enforcement and Deterrence Act, better known as the TRACED ACT, previously passed in May, and the latest version reflects differences that have been worked out with a House version of the bill targeting illegal robocalls.
The legislation has had the backing of the credit union trade groups.
Earlier, NAFCU Vice President of Legislative Affairs Brad Thaler had shared the association's support of Congress' efforts to eliminate illegal robocalls; however, he stressed the importance of ensuring legitimate callers, such as credit unions, are protected.
"Public policy should clearly distinguish between legitimate communications and illegal robocalls and provide avenues for credit unions to share important information with their members," said Thaler.
Government Funding
Meanwhile, as CUToday.info reported earlier, Congress has approved big spending packages that not only keep the government open but that also contain a dozen spending bills for various federal departments and agencies between them. Credit union priorities included in the funding include:
- The Community Development Financial Institutions (CDFI) Fund: $262 million for the CDFI Fund, which helps credit unions in low-income areas serve members in need, and the CDFI Fund grant program gives credit unions access to funds that they are not able to raise from the capital markets
- The Community Development Revolving Loan Fund (CDRLF): $1.5 million for the CDRLF, which NAFCU has also advocated funding for to support low-income members and underbanked communities
- Small Business Administration (SBA) programs: In addition to funding SBA lending programs, the final budget included funds for SBA's 7(a) loan program to prevent fee increases
Other Tax Fixes
In addition to government funding, the spending packages included provisions for some tax fixes and extenders, including a fix to repeal excise tax imposed on certain fringe benefits (such as parking) offered by not-for-profits.