Statement of Administration Policy: H.R. 5554 - Community Development Credit Union Revolving Loan Fund Transfer Act

(House)
(Garcia (D) NY and 25 others)

The Administration opposes H.R. 5554, which would transfer the Community Development Credit Union Revolving Loan Fund from the Department of Health and Human Services (HHS) to the National Credit Union Administration. The President's Fiscal Year 1987 Budget proposed that no new loans be made from the Fund and that unobligated balances in the Fund be rescinded. The Fund should remain in HHS and be terminated.