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Credit Unions Engage with Lawmakers During Hike the Hill

They discussed a range of credit union priorities, including a push for congressional action to help the industry respond during times of crisis.

Senator Chris Van Hollen, who is a member of the powerful Senate Banking Committee, was responsive to making permanent CARES Act enhancements to the Central Liquidity Facility (CLF). Credit union leaders explained that it is an important tool for the industry, giving credit unions the ability to respond quickly during future emergencies.

Senator Van Hollen is a strong advocate of Community Development Financial Institutions (CDFIs) and sits on the Financial Services and General Government Subcommittee that appropriates funding for CDFIs. He is supporting an increase in CDFI funding to $330 million which is included in the omnibus spending bill that congress will vote on in the next few days.

Credit unions also had the opportunity to meet with Rep. Raskin and staffers for Sen. Cardin, Rep. Ruppersberger and Rep. Trone.

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