NCUA,
FinCEN provide updates amid coronavirus; NAFCU confirms Reg D relief
The NCUA issued an update on its efforts to assist credit unions throughout the
coronavirus pandemic, including how credit unions can support members, answering
frequently asked questions, and giving an update on examinations and supervision during this time.
NAFCU
makes additional requests as Congress, FOMC address coronavirus concerns
NAFCU President and CEO Dan Berger Monday asked President Donald Trump and National
Economic Council Director Larry Kudlow to provide credit unions with additional
relief and support to better serve members impacted by the coronavirus. Berger's
request comes as Congress, the Federal Reserve, and other agencies attempt to
slow the spread of virus and address economic concerns.
Berger
provides members with Washington update on coronavirus
In light of
the uncertainty surrounding the spread of the coronavirus and rapidly changing
developments, NAFCU President and CEO Dan Berger sent an update to member credit
unions Monday in which he outlined recent developments and responses from Congress,
the Federal Reserve, the NCUA and other regulators.
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NAFCU
brings CUs' call blocking concerns to FCC
Over the past week,
NAFCU has joined conversations with Federal Communications Commission (FCC) staff
from each of the commissioner's office and other industry trades to discuss
the implementation of the Telephone Robocall Abuse Criminal Enforcement and Deterrence
(TRACED) Act and STIR/SHAKEN protocols. NAFCU has repeatedly shared concerns about
credit unions' legitimate calls being erroneously blocked.
NAFCU,
trades extend support for bill to reform CFPB leadership structure
NAFCU joined with 18 trade associations to offer support for the Consumer Financial
Protection Commission Act of 2020 introduced earlier this month by House Financial
Services Committee Member Blaine Luetkemeyer, R-Mo., and his fellow Republicans
on the Committee. This NAFCU-supported legislation would reform the CFPB's
governance structure from a single director to a bipartisan commission.
SBA
finalizes rule to implement 7(a) reforms
The Small Business Administration
(SBA) Monday published a final rule to implement the NAFCU-supported Small Business
7(a) Lending Oversight Reform Act. The changes take effect April 15.
