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Senate Passes Funding Bill with CU Priorities
Friday, May 5, 2017 6:45 AM

The U.S. Senate voted 79-18 Thursday to pass a $1.1 trillion bill that funds the federal government through Sept. 30. The Consolidated Appropriations Act for Fiscal Year 2017 fully funds the Community Development Institutions (CDFI) Fund, and its report language addresses Cornerstone- and CUNA-supported priorities.

The Treasury’s CDFI Fund, which provides grants and awards to certified CDFIs, was zeroed out in a proposed budget from the Donald Trump Administration, but CUNA engaged leagues, credit unions, employees, and members to bring attention to the impact the funds have in communities that need it the most.

Language in the bill’s report includes urging the Consumer Financial Protection Bureau to report on the use of its section 1022 exemption authority and calls to revisit troublesome rulemakings such as the Telephone Consumer Protection Act order and the Foreign Account Tax Compliance Act.

The bill will now head to Trump for his signature.