The House Appropriations Committee has approved a 2013 spending bill that will maintain 2012 funding for the NCUA's Community Development Revolving Loan Fund, although the $500,000 budgeted is less than the $1.18 million President Obama requested.
However, the committee on Wednesday funded the full $221 million requested by the president for the Treasury Department's Community Development Financial Institutions Fund, and maintained full statutory borrowing authority for the Central Liquidity Facility.
NAFCU said in a release it supported full funding for both programs, which are used by low-income credit unions to strengthen operations and expand services in economically distressed areas.
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