Senate begins debate on relief package; NAFCU reiterates call to include CU tools
Ahead of the Senate’s consideration of the American Rescue Plan Act, NAFCU Vice President of Legislative Affairs Brad Thaler reiterated NAFCU’s call for several tools and flexibilities that will allow credit unions to continue to support their members and communities amid the coronavirus pandemic and beyond.
The House Saturday passed the $1.9 trillion coronavirus relief package, which includes some NAFCU-supported provisions to help small businesses survive and recover from the pandemic and provide assistance to homeowners and renters.
In the letter, sent Tuesday, Thaler highlighted several ways in which credit unions have stepped up to help their communities amid the crisis and again reiterated additional measures to support these efforts, including:
This week: COVID relief package moves to Senate
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NAFCU reiterates necessary CU tools as House considers COVID relief package
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Congress nears COVID relief deal
In addition, the deal would likely provide $2 billion in emergency funding for Treasury’s Community Development Financial Institutions (CDFI) Fund and another round of economic impact payments for consumers.
NAFCU Vice President of Legislative Affairs Brad Thaler sent a message to association members Wednesday urging their help in securing these industry-supported provisions. Credit unions are encouraged to use NAFCU’s Grassroots Action Center to send messages directly to lawmakers on these issues.
Lawmakers are working to finalize the relief provisions so that they could be attached to the federal government funding omnibus bill. Current funding is set to expire at midnight Friday; legislation needs to be passed by both the House and Senate and signed by the president before the deadline to prevent a government shutdown.