House passes Amodei-Aguilar amendment, ensures NCUA’s independence

Capitol building in Washington

In a major victory for credit unions, the House yesterday passed the so-called Amodei-Aguilar amendment to an appropriations bill, ensuring NCUA will not be subject to the appropriations process.

The New York Credit Union Association and CUNA worked closely with the state’s congressional delegation and other federal lawmakers to ensure the amendment’s passage.

By way of background, the House Appropriations Committee passed a spending bill in July that included language to bring NCUA under the Congressional budget process. The Association had serious concerns with this portion of the bill, perceiving it as a backdoor tax on credit unions and a way of stripping NCUA of its independence.

With news that the House was considering the amendment, Association President/CEO William J. Mellin issued a call to action, urging credit union advocates to send messages to their lawmakers in support of the amendment.

“This was a major advocacy victory and a true testament to our ability to mobilize the credit union movement on short notice,” said Mellin. “I’d like to thank all the members of the House who voted in favor of this important amendment, as well as every credit union advocate who wrote in and asked for support from lawmakers.”

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