TDR
flexibility, more CU relief included in Senate-passed Phase 3 coronavirus package
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
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
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.
Compliance-Related
FAQs Regarding COVID-19
Questions on how the coronavirus pandemic
impacts credit unions are answered here
Latest
SBA guidance outlined in new Compliance Blog post
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
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.
