This
week: NAFCU, NCUA keep CUs updated on coronavirus efforts
After lawmakers
and regulators last week approved several relief measures to support consumers,
businesses, and financial institutions dealing with the coronavirus, NAFCU is
keeping credit unions informed of how these efforts will impact their operations.
Tomorrow, join the association for its Q1 Member Call-In to hear the latest out of Washington.
Phase
3 coronavirus package with CU relief now law
Following Senate passage
earlier in the week, the House Friday passed by voice vote the Phase 3 coronavirus
relief package – the CARES Act – which includes several provisions for which
NAFCU had advocated. The president subsequently signed it into law.
Expedite,
streamline combination transaction process, says NAFCU
As the NCUA
considers ways to improve its rules related to combination transactions, NAFCU
Director of Regulatory Affairs Ann Kossachev encouraged an expeditious timeline
for approval and suggested a careful review of its existing requirements for merger
transactions to streamline the process.
Updated Compliance-Related FAQs Regarding
COVID-19
Questions on how the coronavirus pandemic impacts credit
unions are answered here
CFPB
seeks recommendations for taskforce
The CFPB Friday issued a request
for information (RFI) to inform the efforts of its Taskforce on Federal Consumer
Financial Law. The bureau launched the taskforce last year to find ways to improve
and strengthen consumer financial laws and regulations.
