Also: Berger calls on NCUA to provide capital flexibility; Agency releases FAQs on coronavirus guidance
NAFCU TODAY | The News You Need Daily.
March 26, 2020
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TDR flexibility, more CU relief included in Senate-passed Phase 3 coronavirus package [ [link removed] ]
The Senate last night on a 96-0 vote passed the Phase 3 coronavirus relief package – the CARES Act – which includes several provisions that will provide flexibility and relief to credit unions. NAFCU has been aggressively lobbying Capitol Hill to ensure lawmakers understand what credit unions need in order to serve their members and communities as the coronavirus introduces challenges.
Berger to NCUA: Grant CUs urgent capital flexibility, bank parity [ [link removed] ]
NAFCU President and CEO Dan Berger Wednesday urged the NCUA to grant credit unions "additional capital flexibility to address the economic crisis" and provide parity with banks in light of the coronavirus outbreak.
NCUA issues new FAQs related to coronavirus, offers webinar on TDR [ [link removed] ]
The NCUA issued 16 FAQs related to the coronavirus' impact on the agency and credit union operations. NAFCU is working closely with the NCUA to ensure credit unions receive the guidance and relief needed to work through coronavirus issues and continue to serve members.
Latest SBA guidance outlined in new Compliance Blog post [ [link removed] ]
In a new post on the Compliance Blog, NAFCU Regulatory Affairs Counsel Kaley Schafer compiles the latest guidance issued by the Small Business Administration (SBA) and details congressional updates as lawmakers continue to refine legislation that will provide relief for small businesses across the country.
Compliance Network: Get updates on litigation trends [ [link removed] ]
While the coronavirus disrupts some court systems across the country, NAFCU Senior Regulatory Counsel Elizabeth LaBerge updated credit unions on regulatory litigation efforts that have continued in a post on the member-only Compliance, Risk & BSA Network. The association tracks litigation trends facing the credit union industry and regularly provides members with need to know updates via the Compliance Blog and NAFCU Today.
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