Credit unions saw several victories this week with the House passing a Congressional Budget Resolution and emergency disaster funding legislation that contains several CUNA-supported items. The House voted in favor Thursday of the Senate-passed budget resolution, and approved the Additional Supplemental Appropriations for Disaster Relief Requirements Act of 2017 (H.R. 2266) Wednesday.

H.R. 2266 was passed by the Senate Tuesday, and President Donald Trump is expected to sign the bill into law shortly.

“This emergency legislation is a big victory for credit unions by maintaining the viability of the National Flood Insurance Program (NFIP), allowing credit unions to continue to make mortgage loans to members who live in areas where flood insurance is required,” said Ryan Donovan, CUNA’s Chief Advocacy Officer.

The bill provides for $26 billion in debt relief for the NFIP, in addition to $18.7 for the Federal Emergency Management Agency and $576.5 million for wildfire assistance.

 

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