NCUA
offers guidance on virtual meetings, joins agencies to provide loan modification relief
The NCUA Sunday joined with other federal and state regulators to encourage financial
institutions to support borrowers impacted by the coronavirus, specifically address
troubled debt restructurings (TDRs). Additionally, heeding NAFCU's call,
the NCUA Friday announced that credit unions can now adopt a bylaw amendment to
hold virtual annual meetings in certain circumstances.
Appraisals,
MBS, eviction suspension among FHFA's relief efforts
The Federal
Housing Finance Agency continues to pursue ways to support liquidity in the housing
market during the coronavirus pandemic. Yesterday, the agency announced changes
to allow the government-sponsored enterprises (GSEs) to enter into additional
dollar roll transactions, provide alternative flexibilities to satisfy appraisal
and employment verification requirements, and suspend evictions for renters unable to pay rent due to the coronavirus.
Fed
announces new stabilization efforts
Yesterday, the Federal Reserve
announced a new stabilization package and committed to using the full range of
its authorities aimed toward supporting the economy during the coronavirus pandemic.
Compliance-Related
FAQs Regarding COVID-19
Questions on how the coronavirus pandemic
impacts credit unions are answered here
NAFCU
advocacy in high gear as lawmakers continue coronavirus negotiations
After a failed vote Sunday, the Senate Monday again failed to reach an agreement
to move forward with Phase 3 of coronavirus relief provisions – the CARES Act
– though Senate Majority Leader Mitch McConnell, R-Ky., and Senate Minority
Leader Chuck Schumer, D-N.Y., indicated that discussions on an agreement are continuing.
NCUA
updates, pandemic planning on NAFCU committee agenda
NAFCU today will
update members of its Regulatory Committee on the latest NCUA guidance and discuss
business continuity and pandemic planning in light of the coronavirus.
