Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Washington
Omnibus spending bill approved in House
WASHINGTON (1/16/14)--A $1 trillion, nearly 1,600-page omnibus spending bill was approved by the U.S. House on Wednesday by a 359 to 67 vote.

The Senate will reportedly vote on the bill by Friday, allowing President Barack Obama to sign the bill by the Saturday deadline. If approved, the bill would fund the government until October.

The bill would increase funding for the Community Development Revolving Loan Fund at an annualized rate of $1,144,746 and the Community Development Financial Institutions Fund at $210 million. The maximum loan limitation of the National Credit Union Administration's Central Liquidity Facility would also be maintained at its current statutory ceiling of 12 times its paid-in capital.

The Credit Union National Association in a Jan. 7 letter urged lawmakers to restore funding to these two vital programs at levels proscribed in a 2012 law. (See Jan. 15 News Now story: CUNA-requested CDRLF, CDFI Fund funding levels restored under House bill.)


RSS print
News Now LiveWire
#FreeGasFriday courtesy of @tvfcu, TN #creditunions http://t.co/wDRFYJVlpz
1 Day ago
If you were unable to watch or attend @cuna 's @thehill Hill forum on Wed., you can now watch the archived version: http://t.co/FhUnp7HbU8
1 Day ago
Time is running out. If you haven't taken the #NewsNow readership survey, please click here now: http://t.co/4Gp6C2Wa4o
1 Day ago
African financial inclusion possible with mobile money: @IMFNews study http://t.co/0V5DTQToxY
1 Day ago
Louise Herring's birthday is Saturday. 105 years later, her legacy lives on through her kids http://t.co/oMqGADmo0d http://t.co/T3NmS9NqEY
1 Day ago