Also: FHFA provides NAFCU-sought relief for mortgage servicers; NAFCU, Harper talk coronavirus impact on CUs



NAFCU TODAY | The News You Need Daily.

April 22, 2020



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Senate passes additional PPP funding; House expected to vote tomorrow [ [link removed] ]
Lawmakers in the Senate Tuesday passed a relief package, including over $300 billion in additional funding for the Small Business Administration's paycheck protection program (PPP), by voice vote during a pro-forma session. The House is expected to vote on the package as early as Thursday.


FHFA heeds NAFCU call for mortgage servicer relief [ [link removed] ]
The Federal Housing Finance Agency (FHFA) Tuesday announced it will provide a four-month limit on advances of principal and interest payments for loans in forbearance sold to the government-sponsored enterprises (GSEs). NAFCU last week discussed with the FHFA credit union concerns and issues related to mortgage forbearances as the association sought more guidance and relief.


NAFCU, Harper discuss coronavirus impact on CUs [ [link removed] ]
NAFCU President and CEO Dan Berger yesterday spoke with NCUA Board Member Todd Harper about how the coronavirus pandemic is affecting credit unions, steps the industry is taking to support members, and areas of potential relief to ensure credit unions can effectively address coronavirus-related issues.






NCUA's interim final rule on CLF provides flexible access for CUs [ [link removed] ]
Earlier this month, the NCUA issued an interim final rule to enhance credit unions' ability to access and use the Central Liquidity Facility (CLF), codifying temporary changes made by the CARES Act and adopting other, non-expiring improvements. NAFCU sent members a Final Regulation Alert yesterday highlighting the changes and providing a breakdown of how the rule impacts credit unions.


NCUA releases report on diversity, inclusion [ [link removed] ]
The NCUA Monday released its 2019 Office of Minority and Women Inclusion Annual Report that outlines diversity and inclusion at the agency and within the credit union industry using data from the voluntary Credit Union Diversity Self-Assessment tool.


How is coronavirus affecting CUs? [ [link removed] ]
As NAFCU continues to advocate for credit unions' needs in the wake of the coronavirus pandemic, the association encourages members to participate in the Economic & CU Monitor survey to further inform these efforts.


Coronavirus focus of CFPB advisory councils meeting [ [link removed] ]
The CFPB's advisory councils – including the Credit Union Advisory Council (CUAC) – will hold a joint meeting via conference call May 1 to discuss the coronavirus' impact on consumers and financial institutions.


NAFCU expects tumble in existing-home market [ [link removed] ]
Existing-home sales dipped 8.5 percent in March to a seasonally adjusted annual rate of 5.27 million units. Though this represents a 0.8 percent increase in sales versus a year ago, NAFCU Chief Economist and Vice President of Research Curt Long said that is unlikely to continue as social distancing orders keep buyers in their current homes and mass unemployment shakes the economy. 



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