Also: Fed eliminates Reg D transaction limit; NAFCU keeps up advocacy on PPP, MBL relief, more



NAFCU TODAY | The News You Need Daily.

April 27, 2020



----------

----------

PPP set to reopen with more funds [ [link removed] ]
The Small Business Administration's (SBA) paycheck protection program (PPP) is set to reopen today at 10:30 a.m. Eastern as President Donald Trump Friday signed the relief package that provides $320 billion additional funds to the program. In a win for credit unions, a portion of the funds have been set aside for smaller lenders to help them serve small businesses in their communities.


Fed heeds NAFCU's call to eliminate Reg D transaction limit [ [link removed] ]
The Federal Reserve Friday issued an interim final rule to amend Regulation D and remove the six-per-month transaction limit on transferring between savings and checking accounts. NAFCU has long recommended that it be eliminated.


This week: SBA's PPP expected to reopen; NAFCU monitoring MBL relief efforts [ [link removed] ]
Following the passage of $320 billion in new funding for the Small Business Administration's (SBA) paycheck protection program (PPP), the program will reopen today at 10:30 a.m. Eastern. Since the launch of the program, NAFCU has been leading the way to ensure credit unions have all the resources needed to effectively participate in the program.






No plans for Fed to create mortgage servicer facility, says Mnuchin [ [link removed] ]
Treasury Department Secretary Steven Mnuchin said the Federal Reserve doesn't plan to create a facility to support nonbank mortgage servicers. NAFCU has urged the Federal Housing Finance Agency (FHFA) to take steps to support mortgage servicers, including credit unions, that could be negatively impacted by increased forbearance requests as a result of the coronavirus.


Fed adjusts intraday credit procedures to increase credit availability [ [link removed] ]
The Federal Reserve Board last week announced temporary actions intended to increase the availability of intraday credit extended by the Federal Reserve Banks on both a collateralized and uncollateralized basis.


NCUA's temporary final rule offers reg relief for CUs [ [link removed] ]
Earlier this month, the NCUA Board approved a temporary final rule modifying certain regulatory requirements to help ensure that federally insured credit unions (FICUs) may be operational and liquid during the coronavirus pandemic. Following the rule becoming effective April 21, NAFCU sent members a Final Regulation Alert highlighting the relief provided by the temporary rule.



----------



----------






----------
NAFCU Calendar: [link removed]





----------








--------------------------------------------

JOIN THE CONVERSATION:
LINKEDIN: [link removed]
FACEBOOK: [link removed]
TWITTER: [link removed]
YOUTUBE: [link removed]
BLOGS: [link removed] ]
---------------------------------------------
Send feedback [ mailto:[email protected] ]
Subscribe now to NAFCU Today [ [link removed] ]
Opt out of NAFCU Today? [ [link removed] ]
Update your communication preferences [ [link removed] ]
Unsubscribe to ALL of NAFCU's emails. [ [link removed] ]

NAFCU Today? is published weekdays by the National Association of Federal Credit Unions.

3138 10th Street North | Arlington, VA 22201 | email: [email protected] [ mailto:[email protected] ] | phone: (703) 522-4770; (800) 344-5580

?




Powered by Higher Logic [link removed]