House Bill Likely to Retain Postal Banking Pilot

A Republican effort to kill a postal banking pilot program contained in the House version of the FY22 Financial Services spending bill failed Monday.

The decision by the House Rules Committee not to allow Republicans to offer that amendment during floor debate of the measure all but guarantees that the $6 million pilot program will be in the House-passed version of the appropriations measure.

House Financial Services Dems Push for $8.5 Million Boost for Credit Union Community Development Fund

Democrats on the House Financial Services Committee are asking congressional budget writers for an $8.5 million increase for the National Credit Union Administration’s Community Development Revolving Loan Fund in FY22.

That represents an increase of almost 567% over the $1.5 million the program received during the current fiscal year. The Democrats said that 40% of the CDRLF funds should be set aside for Minority Depository Institutions.