Also: What to know on PPP, new Fed lending program, more; Hood supports NAFCU-sought reforms in letter to Crapo



NAFCU TODAY | The News You Need Daily.

May 1, 2020



----------

----------

NCUA chairman backs NAFCU's call for CU CECL exemption [ [link removed] ]
NCUA Chairman Rodney Hood Thursday called on the Financial Accounting Standards Board (FASB) to exempt credit unions from the current expected credit loss (CECL) standard. Since 2016, when the standard was issued, NAFCU has continuously urged FASB to exempt credit unions from the standard due to their unique capital framework and the negative impact the standard could have on the industry.


4 things to know on coronavirus [ [link removed] ]
NAFCU's widely-read NAFCU Today is credit union leaders' go-to source for the latest on issues impacting the credit union industry. For those short on time, here's a roundup of this week's top need-to-know updates and resources related to the coronavirus pandemic, including on the paycheck protection program, Federal Reserve's Main Street Lending Program, and more.


NCUA's Hood supports NAFCU-sought reforms in letter to Senate chairman [ [link removed] ]
In a letter sent to Senate Banking Committee Chairman Mike Crapo, R-Idaho, this week, NCUA Chairman Rodney Hood spoke out in support of greater relief for the credit union industry amid the coronavirus pandemic, including many NAFCU-sought initiatives. The letter was sent in response to an inquiry from Chairman Crapo to financial regulators asking for updates on pandemic relief efforts.






NCUA Letter to CUs offers guidance on providing coronavirus relief to borrowers [ [link removed] ]
In a Letter to Credit Unions released yesterday, the NCUA offered a variety of strategies credit unions can use to work with borrowers who experience financial hardships due to the coronavirus, including how to monitor and report loan modifications. This comes following the NCUA and other federal and state regulators released a revised interagency statement in April encouraging financial institutions to work constructively with borrowers impacted negatively by the pandemic.


New on the Compliance Blog: BSA/AML, Reg D, HMDA [ [link removed] ]
NAFCU's award-winning Compliance Team is working around the clock to publish new Compliance Blog posts daily, Monday-Friday, to keep credit unions informed of important regulatory updates during the coronavirus pandemic. Here is a roundup of this week's blog posts.


The NAFCU Journal: Explore data-based growth strategies, mortgage lending environment, more [ [link removed] ]
The May-June edition of The NAFCU Journal is now available online and features articles to provide credit unions with insights into the benefits of strategically analyzing data and how credit unions' biggest strengths can shine in the housing finance market.


NCUA bans 1 from future work in FIs [ [link removed] ]
The NCUA in April issued one prohibition notice, prohibiting an individual previously associated with credit unions from any future participation in the affairs of a federally-insured financial institution.



----------



----------






----------
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]