Also: PPP awaits more funding as SBA updates FAQs; NCUA makes it easier to access CLF



NAFCU TODAY | The News You Need Daily.

April 14, 2020



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NAFCU discusses mortgage lending, forbearances with CFPB [ [link removed] ]
Members of NAFCU's Regulatory Affairs team Monday shared credit union concerns and issues related to mortgage servicing, forbearances, and periodic statements with the CFPB. NAFCU previously spoke with CFPB Director Kathy Kraninger to reiterate credit unions' need for regulatory relief amid the coronavirus.


Additional PPP funding in limbo [ [link removed] ]
The Senate's pro-forma session adjourned Monday with no action taken on efforts to provide the Small Business Administration's paycheck protection program (PPP) with more funds. The $349 billion that was originally appropriated for the program could be fully allocated within the next week based on the pace of applications so far.


NCUA issues rule to enhance CUs' use of CLF [ [link removed] ]
The NCUA Monday issued an interim final rule to enhance credit unions' use of the Central Liquidity Facility (CLF). The CARES Act provided flexibility for credit unions to access the facility, and this rule adjusts the agency's regulations to supplement the changes made by the legislation.






Compliance Monitor: CARES Act overview, what CUs need to know when offering loan modifications [ [link removed] ]
The latest edition of NAFCU's Compliance Monitor – a free, member-only benefit – provides credit unions with an in-depth look at things to consider while incorporating flexibility in lending policies to help members through the coronavirus pandemic.


New report warns of stimulus payment fraud [ [link removed] ]
As the Treasury Department and Internal Revenue Service begin to disperse stimulus payments under the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), an article from KrebsOnSecurity warns that the new website to help non-filers could make it easy for thieves to intercept some payments.


NCUA marks $1.3M of CDRLF for coronavirus assistance [ [link removed] ]
The NCUA Monday announced that it is committing the majority of the 2020 Community Development Revolving Loan Fund (CDRLF) to provide coronavirus assistance to low-income credit unions. It is increasing its original allotment to $1.3 million.


NCUA, FDIC webinar to provide info on deposit security, potential scams, more [ [link removed] ]
Thursday, the NCUA in collaboration with the Federal Deposit Insurance Corporation (FDIC) is offering a webinar that credit union members may find helpful as representatives from both agencies offer tools and tips to help manage household finances during the coronavirus pandemic.



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