The House approved by voice vote Wednesday an amendment removing language placing NCUA under the appropriations process from its appropriations bill (H.R. 3354). CUNA and the leagues worked closely to engage credit union activists over the last few weeks to ensure the amendment was approved, keeping NCUA out of the appropriations process.
The amendment, offered by Reps. Mark Amodei (R-Nev.) and Pete Aguilar (D-Calif.), strikes Section 906 of Division D of H.R. 3354.
“This is a huge victory for credit unions and their member-owners. We thank Reps. Amodei and Aguilar for their steadfast leadership in keeping NCUA out of the appropriations process and the thousands of CUNA/League credit union activists who took action–these voices made all the difference on the Hill,” said Jim Nussle, CUNA president/CEO. “Placing NCUA under appropriations would be the functional equivalent of a hidden tax on credit unions and their members.”
Section 906 would have placed NCUA under appropriations, meaning the credit union and credit union member funds used to fund NCUA could have also been used to pay for or offset other areas of government.
continue reading »